Raymond James Fined $2.75M for Poor Oversight

The NASD has fined Raymond James $2.75 million for lax supervision of 1,000 of its producing branch managers between 2000 and 2004. In a related action, NASD permanently barred one of the firm's former branch managers, Donna Vogt, for recommending unsuitable mutual funds and variable annuities to retirees.

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