{"id":1798,"date":"2016-02-24T19:10:15","date_gmt":"2016-02-24T19:10:15","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2016\/02\/raymond_james_must_pay_investo"},"modified":"2016-02-24T19:10:15","modified_gmt":"2016-02-24T19:10:15","slug":"raymond-james-must-pay-investo","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-must-pay-investo\/","title":{"rendered":"Raymond James Must Pay Investor $795K"},"content":{"rendered":"

\t\t\t\tIn a Financial Industry Regulatory Authority arbitration case, Raymond James Financial Services Inc. (RJF)<\/a> has been ordered to pay David B. Silipigno $593,540 plus 3 years and 9 months of interest. That’s an award of about $795,000. According to Silipigno’s attorney, the securities arbitration case involved an RIA who may not have not licensed with FINRA but worked out of the Raymond James independent contractor branch office. <\/p>\n

The attorney said that such a work configuration may cause problems in that a non-registered adviser could effectively become a defacto employee of a brokerage firm. OnWallStreet.com <\/em>names the broker involved as Karen Powell, who has been affiliated with Raymond James since 1999.<\/p>\n

Silipingo, in his claim, asserted a number of causes of action, including common law fraud, breach of fiduciary duty, beach of contract, suitability, churning, failure to supervise, and violations of Rule 10b-5 of the Securities Exchange Act violation and The Florida Securities Investor Protection Act. Raymond James continues to deny the allegations. The arbitration panel denied the firm’s request to have Powell’s CRD expunged in this matter.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In a Financial Industry Regulatory Authority arbitration case, Raymond James Financial Services Inc. (RJF) has been ordered to pay David B. Silipigno $593,540 plus 3 years and 9 months of interest. That’s an award of about $795,000. According to Silipigno’s attorney, the securities arbitration case involved an RIA who may not have not licensed with […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3739,3758],"tags":[],"class_list":["post-1798","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-finra","category-raymond-james"],"yoast_head":"\nRaymond James Must Pay Investor $795K — Investor Lawyers Blog — February 24, 2016<\/title>\n<meta name=\"description\" content=\"In a Financial Industry Regulatory Authority arbitration case, Raymond James Financial Services Inc. (RJF) has been ordered to pay David B. 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