- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Financial Industry Regulatory Authority has fined Raymond James Financial Services $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing e-mail communications, serving as a warning to compliance officers to review FINRA's guidance concerning the review and supervision of electronic communications.
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A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.
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