{"id":6030,"date":"2016-09-10T23:59:14","date_gmt":"2016-09-11T04:59:14","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1065"},"modified":"2016-09-10T23:59:14","modified_gmt":"2016-09-11T04:59:14","slug":"securities-violations-raymond-james-robert-w-baird-pay-fines-alleged-wrap-fee-compliance-failures-rbc-agrees-pay-2-5m-proxy-statement-disclosures-ex-arcp-accounting-execut","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-violations-raymond-james-robert-w-baird-pay-fines-alleged-wrap-fee-compliance-failures-rbc-agrees-pay-2-5m-proxy-statement-disclosures-ex-arcp-accounting-execut\/","title":{"rendered":"Securities Violations: Raymond James and Robert W. Baird to Pay Fines For Alleged Wrap Fee Compliance Failures, RBC Agrees to Pay $2.5M Over Proxy Statement Disclosures, and Ex- ARCP Accounting Executives Are Accused of Overstating REIT\u2019s Performance"},"content":{"rendered":"<p>\t\t\t\t&nbsp;<\/p>\n<p><strong>Raymond James and Robert W. Baird Are Charged With Compliance Failures<\/strong><\/p>\n<p>The Securities and Exchange Commission said that Robert W. Baird and Co. and <a href=\"https:\/\/www.investorlawyers.com\/raymond-james-background-information\">Raymond James &amp; Associates (RJF) <\/a>will pay $250K and $600K, respectively, to settle charges accusing them of compliance failures in their own wrap free programs. Both firms resolved the charges without admitting or denying to them. They did, however, consent to the regulator\u2019s orders, which found that they violated the Investment Advisers Act of 1940 and Rule 206(4)-7.<\/p>\n<p>According to the SEC\u2019s investigation, Raymond James and Robert W. Baird did not put into place the necessary policies and procedures that would have allowed them to figure out how much in commissions \u00a0their clients were charged when sub-advisers \u201ctraded away\u201d with a brokerage firm that was not part of the wrap fee programs. As a result, said the regulator, the advisers could not let clients know the \u201cmagnitude of the costs\u201d nor did the firm consider these commissions when trying to figure out whether the wrap fee program or sub-advisers were appropriate for clients. Because of this, claims the SEC, some clients did not know that they were paying for more than the single wrap fee for investments that were bundled.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Two ARCP Ex-Accounting Executives Face SEC and Criminal Charges For Allegedly Inflating the REIT\u2019s Performance<\/strong><\/p>\n<p>Brian S. Block and Lisa P. McAlister are facing criminal and civil charges for allegedly overstating the performance of the American Reality Capital Properties (ARCP), now called VEREIT Inc. The two former ARCP accounting executives are accused of inflating a key metric that investors and analysts used to evaluate the publicly-traded real estate investment trust.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-violations-raymond-james-robert-w-baird-pay-fines-alleged-wrap-fee-compliance-failures-rbc-agrees-pay-2-5m-proxy-statement-disclosures-ex-arcp-accounting-execut\/#more-6030\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Raymond James and Robert W. Baird Are Charged With Compliance Failures The Securities and Exchange Commission said that Robert W. Baird and Co. and Raymond James &amp; Associates (RJF) will pay $250K and $600K, respectively, to settle charges accusing them of compliance failures in their own wrap free programs. Both firms resolved the charges [&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":[3758,3759,3760,3795,3761],"tags":[2814,3658],"class_list":["post-6030","post","type-post","status-publish","format-standard","hentry","category-raymond-james","category-reits","category-sec-enforcement","category-sec-settlements","category-securities-and-exchange-commis","tag-arcp","tag-robert-baird"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Violations: Raymond James and Robert W. Baird to Pay Fines For Alleged Wrap Fee Compliance Failures, RBC Agrees to Pay $2.5M Over Proxy Statement Disclosures, and Ex- ARCP Accounting Executives Are Accused of Overstating REIT\u2019s Performance &#8212; Investor Lawyers Blog &#8212; September 10, 2016<\/title>\n<meta name=\"description\" content=\"&nbsp; Raymond James and Robert W. Baird Are Charged With Compliance Failures The Securities and Exchange Commission said that Robert W. Baird and Co. and &#8212; September 10, 2016\" \/>\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\/securities-violations-raymond-james-robert-w-baird-pay-fines-alleged-wrap-fee-compliance-failures-rbc-agrees-pay-2-5m-proxy-statement-disclosures-ex-arcp-accounting-execut\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Violations: Raymond James and Robert W. Baird to Pay Fines For Alleged Wrap Fee Compliance Failures, RBC Agrees to Pay $2.5M Over Proxy Statement Disclosures, and Ex- ARCP Accounting Executives Are Accused of Overstating REIT\u2019s Performance &#8212; Investor Lawyers Blog &#8212; September 10, 2016\" \/>\n<meta name=\"twitter:description\" content=\"&nbsp; Raymond James and Robert W. 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