Linda Busby, the former anti-money laundering compliance officer for Raymond James & Associates, was fined $25,000 and suspended for three months.
Raymond James & Associates and Raymond James Financial Services failed to set up systems to properly prevent, detect and investigate suspicious activity for several years as the units saw “significant growth” from 2006 to 2014, according to a statement Wednesday from Finra. with a record $17 million in fines for widespread compliance failures in the brokerage firm’s anti-money laundering programs. slapped two units of Raymond James Financial Inc.
The Financial Industry Regulatory Authority Inc.
