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The SEC says the firm improperly charged advisory fees on inactive accounts and collected excessive commissions.
Raymond James has settled SEC charges that three of its units improperly charged advisory fees on inactive retail client accounts and charged excess commissions for brokerage-customer investments in certain unit investment trusts (UITs). The firm, a St. Petersburg, Florida-based investment bank and financial services company founded in 1961, has agreed to be censured and will...
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