Six states impose $4.2M fine on Raymond James for excessive fees

Jul 11, 2023 · Six states ordered Raymond James to pay $4.2 million in fines and penalties and return $8.25 million to retail customers who were charged excessive commissions for small …

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Six States Impose $4.2M Fine On Raymond James For Excessive Fees

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Jul 11, 2023 · Six states ordered Raymond James to pay $4.2 million in fines and penalties and return $8.25 million to retail customers who were charged excessive commissions for small …

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Raymond James To Pay Nearly $12.5 Million For ‘Nickel-and …

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Jul 11, 2023 · Raymond James clients who were charged more than 5% commission on equity transactions in the past five years will be eligible for the restitution offer, according to the …

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Raymond James To Pay $12.4M To Settle Allegations It …

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Jul 11, 2023 · The multistate investigation was led by state securities regulators in Alabama, California, Illinois, Massachusetts, Montana, and Washington and found that Raymond James …

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NASAA Announces $13 Million Settlement With Raymond James

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The investigation was led by state securities regulators in Alabama, California, Illinois, Massachusetts, Montana, and Washington and found that Raymond James charged …

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Raymond James To Pay Nearly $200,000 In Penalties And ... - Oregon

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Jan 31, 2024 · In Oregon, Raymond James charged unreasonable commissions totaling $96,550.83 to Oregon investors in 2,740 transactions. As part of the settlement, Raymond …

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Settlement Reached Between Raymond James And Oregon Investors

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Feb 4, 2024 · Raymond James has reached a settlement to pay close to $200,000, addressing claims it levied unreasonable commissions on investors across a span of five years up to last …

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ACC Joins Other States In $12.4 Million Settlement With Raymond …

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Dec 6, 2024 · Phoenix, Ariz. - The Arizona Corporation Commission announced it has joined a multi-state settlement with two financial services firms of Raymond James, which will pay …

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Oregon Orders Raymond James To Pay Nearly $200K Over …

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Feb 5, 2024 · The investigation concluded that Raymond James had levied “unreasonable commissions” on customers over five years, from July 1, 2018 to July 17, 2023. ... Raymond …

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Alabama Joins Multiple States In $12.4 Million Settlement With …

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Nov 7, 2023 · $8,250,000 in excessive commissions collected. In these transactions, Raymond James took commissions in excess of 5% of the principal value, with commissions in some …

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Montanans To Share Payout After Raymond James Settlement

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Jul 20, 2023 · HELENA, Mont. — Hundreds of Montanans will see money from a multimillion-dollar settlement with a major finance company. The $13 million agreement with Raymond …

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Raymond James Settles Oregon Allegations That It Overcharged …

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Raymond James has agreed to pay nearly $200,000 to settle allegations that it charged investors unreasonable commissions over a five-year period ending last July.

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$200K Penalties, Restitution For Overcharging Commissions To …

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Feb 5, 2024 · In Oregon, Raymond James charged unreasonable commissions totaling $96,550.83 to Oregon investors in 2,740 transactions. As part of the settlement, Raymond …

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Raymond James To Pay $13M Over High Fees - ThinkAdvisor

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Jul 11, 2023 · The firm agreed to pay $4.5 million in fines to state regulators and to return $8.25 million plus interest to clients.

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Raymond James To Pay $13 Million For Unreasonable Fees

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Raymond James to Pay $13 Million for Unreasonable Fees, Regulators Say ... The company charged excessive commissions on over 270,000 equity transactions and trades, resulting in …

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FAQs about Six states impose $4.2M fine on Raymond James for excessive fees Coupon?

Did Raymond James charge unreasonable commissions?

The investigation was led by state securities regulators in Alabama, California, Illinois, Massachusetts, Montana, and Washington and found that Raymond James charged unreasonable commissions on over 270,000 equity transactions and trades nationwide over the past five years. This practice resulted in overcharging its customers by $8.25 million. ...

How much will Raymond James pay to settle 'unreasonable commissions'?

Raymond James will pay over $12 million to settle charges of 'unreasonable commissions' on transactions'. According to state regulators. ...

How much will Raymond James pay to settle charges?

Raymond James will pay around $12.5 million to settle charges of charging ‘unreasonable commissions’ on more than 270,000 transactions and trades for retail customers during the past five years. ...

Will Raymond James return $825 million if fees are too high?

A group of state regulators has ordered Raymond James Financial Services Inc. to return $8.25 million, plus interest, to clients who were charged unreasonably high fees over the past five years. ...

Does Raymond James charge a minimum commission?

Raymond James is accused of charging customers a minimum commission charge of $75, regardless of the size of the transaction. ...

Will Raymond James pay restitution?

Raymond James will pay more than $460,000 in restitution and 6% interest in California alone, for customers with unreasonable commissions between July 1, 2018, and July 17, 2023. The settlement highlights state securities regulators’ efforts to safeguard investors, according to DFPI Commissioner Clothilde Hewlett. ...