Defendant Name:
Raymond James & Associates, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Raymond James Financial, Inc.
SIC Code:
6211
CUSIP:
75473010
Document Reference:
34-100705
Document Details
Legal Case Name
In the Matter of Raymond James & Associates, Inc.
Document Name
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
Document Date
14-Aug-2024
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$50,000,000.00
Shared:
