Law360, New York (February 03, 2010, 5:33 PM ET) -- Raymond James Financial Inc. announced Wednesday that it was fined $12.12 million by the Financial Industry Regulatory Authority after a subsidiary was found liable for illegally luring employees from A.G. Edwards & Sons Inc. following the rival's buyout by Wachovia Securities.
The Jan. 29 judgment handed down by FINRA arbitrators resolved claims that Raymond James & Associates Inc. wrongfully nabbed four financial advisers from A.G. Edwards as part of an alleged conspiracy to steal the branch assets of Wachovia and set up competing offices.
FINRA ordered...
Raymond James Fined $12.1M For Employee Poaching
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