Raymond James & Associates, Inc has agreed to pay a fine of $125,000 as a 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), in violation of FINRA Rules 6380A, 6622, and 2010.

From at least January 2018 through October 2024, Raymond James failed to establish and maintain a supervisory system reasonably designed to comply with its reporting obligations for fractional share trades, in violation of FINRA Rules 3110 and 2010.

The firm has agreed to a censure in addition to the fine of $125,000, as well as to an undertaking to pay regulatory transaction fees.

Raymond James & Associates, Inc. has been a FINRA member since 1964. The firm is headquartered in St. Petersburg, Florida, and has approximately 1,050 branch offices and approximately 8,600 registered representatives. The firm provides execution, clearing, and custodial services to retail and institutional customers.