Mississippi Joins Multistate $12.4 Million Securities Settlement with Raymond James
JACKSON, Miss – Secretary of State Michael Watson announced today the Securities Division of the Mississippi Secretary of State's Office has joined a multi-state settlement with Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. (collectively, Raymond James). The firms will pay at least $8.2 million in refunds to clients and $4.2 million in penalties and costs to the states for charging unreasonable commissions on trades that harmed main street investors.