Raymond James & Associates, Inc– Failure to Establish and Maintain an Adequate Supervisory System

Raymond James & Associates, Inc Allegedly Disadvantaged Retirement Plan and Charitable Organization Customers Whom Were Qualified to Purchase Class A Shares in Certain Mutual Funds

Raymond James & Associates, Inc allegedly disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase Class A shares in certain mutual funds without a front-end sales charge or Class B or C shares with back-end sales charges and higher ongoing fees and expenses, according to recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

From at least July 1,2009 through December 31, 2014 Raymond James allegedly failed to establish and maintain an adequate supervisory system and procedures properly constructed to ensure that Eligible Customers who purchased mutual fund shares received the help of applicable sales charge waivers, according to said AWC.

Raymond James & Associates, Inc Has Been Censured and Must Reportedly Pay Restitution in the Sum of $4,489,553

Raymond James, from at least July 1, 2009 through December 31, 2014, allegedly failed to establish and maintain written procedures to identify applicable fund sales charge waivers in fund prospectuses for Eligible Customers, and also allegedly failed to adequately notify and train its financial advisors regarding the availability of mutual fund sales charge waivers for Eligible Customers, according to the AWC.

As a result of the aforementioned behavior, Raymond James allegedly violated NASD and FINRA Rules. Consequently, Raymond James has been censured and ordered to pay restitution to customers to the tune of $4,489,553.70, the AWC also notes.

The Peiffer Rosca Wolf Investor Rights Lawyers Often Assist Investors

The Peiffer Rosca Wolf investor rights lawyers are assisting investors who lose money as a result of inadequate supervisory systems. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of inadequate supervisory systems are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1169 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.