FINRA Ordered Raymond James to Pay $3.2 Million to Customers Harmed by Oil and Gas Investments

Posted on November 7th, 2019 at 5:22 PM
FINRA Ordered Raymond James to Pay $3.2 Million to Customers Harmed by Oil and Gas Investments

From the Desk of Jim Eccleston at Eccleston Law LLC:

Financial Industry Regulatory Authority Inc. (“FINRA”) has ordered Raymond James and Associates Inc. (“Raymond James”) to pay $3.2 million to more than two dozen customers over unauthorized trading in oil and gas ventures.

According to FINRA, the firm was liable for transactions conducted by James Edward Lyons, a former registered representative who is now barred from the industry.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, oil, gas investments, finra

Return to Archive

TESTIMONIALS

Previous
Next

Thank you so very much for your guidance, patience, and expertise.

Beth and Steve K.

LATEST NEWS AND ARTICLES

March 10, 2025
Wells Fargo and Merrill Lynch Settle SEC Charges Over Cash Sweep Program Policies

The Securities and Exchange Commission (SEC) has announced settlements with Wells Fargo Clearing Services LLC, Wells Fargo Advisors Financial Network LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated over allegations that they failed to implement proper policies and procedures for their cash sweep programs.

March 7, 2025
FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers

FINRA has directed Edward Jones, Osaic Wealth, Inc., and Cambridge Investment Research, Inc. to pay more than $8.2 million in restitution to customers harmed by failures to provide mutual fund sales charge waivers and fee rebates. 

March 6, 2025
FINRA Fines Newbridge Securities $105,000 for Failing to Supervise Margin Trading

Newbridge Securities Corp., an independent broker-dealer based in Boca Raton, Florida, has agreed to pay a $105,000 penalty for failing to supervise financial advisors who recommended margin trading to clients.