FINRA imposes $125k fine on Raymond James & Associates

Raymond James & Associates, Inc has agreed to pay a fine of $125,000 as part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From at least January 2018 through October 2024, Raymond James failed to report approximately 2.56 million fractional share liquidations to the FINRA/Nasdaq Trade Reporting Facility (TRF) and the Over-the-Counter Reporting Facility (ORF), violating FINRA Rules 6380A, 6622, and 2010.

The firm also failed to establish and maintain a supervisory system reasonably designed to comply with its reporting obligations for fractional share trades, violating FINRA Rules 3110 and 2010.

Raymond James has agreed to a censure, the $125,000 fine, and an undertaking to pay regulatory transaction fees.

The firm, a FINRA member since 1964, is headquartered in St. Petersburg, Florida, with approximately 1,050 branch offices and 8,600 registered representatives, providing execution, clearing, and custodial services to retail and institutional customers.