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Written by 5:09 pm Blog

Raymond James fined by FINRA.

According to various reports, regulators have fined Raymond James $17 million, accusing the financial services firm of widespread failures in its controls against money laundering.

The Financial Industry Regulatory Authority (a/k/a FINRA) recently announced that Raymond James failed over several years to detect suspicious activity in client investment accounts and to report it to government authorities. FINRA said the firm’s failure was especially serious because it already had been censured and fined in March 2012 for the same problems.

Raymond James, based in St. Petersburg, Florida, neither admitted nor denied wrongdoing.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For information on the firm and its representation of investors, visit https://whitesecuritieslaw.com.

For a free consultation with a securities attorney, please call 888-637-5510.

Tags: , , , , , Last modified: May 18, 2016