Skip to content

FINRA Suspends and Fines Former Raymond James Broker for Accepting Monetary Gifts

The Financial Industry Regulatory Authority has suspended and fined a former Raymond James broker for accepting monetary gifts from a firm customer over a six-year period.

The Financial Industry Regulatory Authority has suspended and fined a Robert Edward White, a former Raymond James broker, for accepting $58,000 in monetary gifts from a firm customer over a six-year period, a violation of firm policy.

Raymond James prohibited registered representatives from accepting monetary payments and gifts in excess of $100 per year from firm customers. FINRA claims that White falsely certified on six annual compliance questionnaires that he understood and complied with the policy.

White entered the securities industry in 1998 and was associated with Raymond James for 14 years until he was terminated in May 2017.

FINRA suspended White for four months and fined him $10,000 for the alleged violation. While not currently registered, he agreed to the sanctions without admitting or denying the charges. White had no prior disciplinary history with any regulatory agency.

Click here to visit The DI Wire directory page.