{"id":18318,"date":"2019-10-03T14:18:27","date_gmt":"2019-10-03T19:18:27","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18318"},"modified":"2019-10-02T14:20:07","modified_gmt":"2019-10-02T19:20:07","slug":"raymond-james-to-pay-15m-sec-charges","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/","title":{"rendered":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges"},"content":{"rendered":"<p>Three <a href=\"https:\/\/www.investorlawyers.com\/raymond-james-background-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">Raymond James<\/a> entities &#8212; Raymond James &amp; Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. (RJF) &#8212; have agreed to pay $15M to settle <a href=\"https:\/\/www.sec.gov\" target=\"_blank\" rel=\"noopener noreferrer\">US Securities and Exchange Commission (SEC) <\/a>charges accusing the brokerage firm of charging excess commissions to customers that invested in certain united investment trusts (UITs) and, also, of improperly charging advisory fees to retail client accounts that were no longer active. As part of the settlement, the Raymond James entities will issue distributions to investors who were affected.<\/p>\n<p>According to the SEC\u2019s<a href=\"https:\/\/www.sec.gov\/litigation\/admin\/2019\/33-10689.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"> cease-and-desist order<\/a>, from at least 1\/2013 through 5\/2018, Raymond James &amp; Associates and Raymond James Financial Services Advisors:<\/p>\n<ul>\n<li>Didn\u2019t not perform suitability reviews as promised.<\/li>\n<\/ul>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/\"  title=\"Continue Reading Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Three Raymond James entities &#8212; Raymond James &amp; Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. (RJF) &#8212; have agreed to pay $15M to settle US Securities and Exchange Commission (SEC) charges accusing the brokerage firm of charging excess commissions to customers that invested in certain united investment trusts [&hellip;]<\/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":[3774,3941],"tags":[4181,4182,4183,3332],"class_list":["post-18318","post","type-post","status-publish","format-standard","hentry","category-broker-dealers","category-unit-investment-trust","tag-raymond-james","tag-raymond-james-associates","tag-raymond-james-financial-services","tag-raymond-james-financial-services-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges| SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"Raymond James &amp; Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. have agreed to pay $15M to settle SEC charges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges| SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"Raymond James &amp; Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. have agreed to pay $15M to settle SEC charges.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges| SSEK Law Firm","description":"Raymond James & Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. have agreed to pay $15M to settle SEC charges.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/","twitter_card":"summary_large_image","twitter_title":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges| SSEK Law Firm","twitter_description":"Raymond James & Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. have agreed to pay $15M to settle SEC charges.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges","datePublished":"2019-10-03T19:18:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/"},"wordCount":504,"keywords":["Raymond James","Raymond James &amp; Associates","Raymond James Financial Services","Raymond James Financial Services Advisors"],"articleSection":["Broker-Dealers","Unit Investment Trust"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/","url":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/","name":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges| SSEK Law Firm","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2019-10-03T19:18:27+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Raymond James & Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. have agreed to pay $15M to settle SEC charges.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/raymond-james-to-pay-15m-sec-charges\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Raymond James To Pay $15M for Improper Advisory Fees and Commission Charges"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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