Defendant Name:
Raymond James & Associates, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Raymond James Financial, Inc.
SIC Code:
6211
CUSIP:
75473010
Initial Case Details
Legal Case Name
In the Matter of Raymond James & Associates, Inc.
First Document Date
14-Aug-2024
Initial Filing Format
Administrative Action
File Number
3-22002
Allegation Type
Investment Advisers/Investment Companies
Violations Alleged
•
Failure to supervise under Section 203(e)(6) Advisers Act
Resolutions
First Resolution Date
14-Aug-2024
Headline Total Penalty and Disgorgement
See Related Documents
Related Documents:
34-100705
14-Aug-2024
Administrative Proceeding
Order Instituting Administrative and Cease-And-Desist Proceedings, Pursuant To Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On August 14, 2024, the SEC instituted administrative and cease-and-desist proceedings against Raymond James & Associates, Inc., stating: "These proceedings arise out of the widespread and longstanding failure of Raymond James personnel throughout the firm, including at senior levels, to adhere to certain of these essential requirements and the firm’s own policies. Using their personal devices, these personnel communicated both internally and externally by text messages and/or other unapproved written communications platforms (“off-channel communications”)."
Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC's Charges for Widespread Recordkeeping Failures
On August 14, 2024, the SEC "announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications."
34-102350
05-Feb-2025
Commission Order and Opinion
Order Granting Extension of Time
The Commission ordered that: " the Division shall file its response to the respondent’s motion by February 13, 2025."
34-102860_3-22002
14-Apr-2025
Commission Order and Opinion
Order Denying Motions to Modify or Amend and Stay Settled Orders
The Commission says Respondents "signed offers of settlement, in which Respondents admitted to certain violations related to their employees' communications on personal devices." "Respondents now seek to (1) modify their Settled Orders . . . and (2) stay the effectiveness of their undertakings" in order to "'equalize' certain undertakings . . . with those contained in more recent Commission settlements." However, the Commission "den[ied] Respondents' motions."
