William F. Galvin, the Secretary of the Commonwealth of Massachusetts, ordered Raymond James Financial Services, Inc. RJF to return $8.25 million plus interest to customers who were charged “unreasonably high fees” as part of a settlement, according to a Tuesday statement. He also ordered Raymond James to pay $4.2 million in fines and penalties to the six states involved in the probe of the financial firm.
Galvin, the Secretary of the Commonwealth of Massachusetts, ordered Raymond James Financial Services, Inc. RJF to return $8.25 million plus interest to customers who were charged “unreasonably high fees” as part of a settlement, according to a Tuesday statement. He also ordered Raymond James to pay $4.2 million in fines and penalties to the six states involved in the probe of the financial firm.