Raymond James Financial Services has challenged a $1.7 million FINRA arbitration award that was handed down in May, saying questionable transactions should have been nullified in the case, and that the panel overstepped its authority in granting certain parts of the award. 

Raymond James argued that the variable annuity transactions in the original case -- which actually turned an $800,000 profit for the client -- should have been rescinded. This is what the clients in the original case, Hurshel Tyler and the estate of his late wife, Mildred Tyler, wanted.

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