September 20, 2005
SEC Finds Liability for Broker's Actions
According to the St Pete Times here and Newsday(AP) here, the SEC found Raymond James Financial Services liable for alleged fraud acts committed by one of its brokers. It will cost the company $6.9 Million. This sends a strong message to all companies that they need to be monitoring what is going on inside the company. The St Pete Times provides full details on how the judge computed this hefty fine.
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