Raymond James Fined $2.75M for Poor Oversight
February 26, 2007
The NASD has fined Raymond James $2.75 million for lax supervision of 1,000 of its producing branch managers between 2000 and 2004. In a related action, NASD permanently barred one of the firm's former branch managers, Donna Vogt, for recommending unsuitable mutual funds and variable annuities to retirees.
(c) 2007 Money Management Executive and SourceMedia, Inc. All Rights Reserved.