Raymond James has agreed to pay $150 million to settle allegations it enabled a scheme to defraud immigrant investors through a Vermont ski resort and related businesses.

The settlement is the third major regulatory payment the broker-dealer has incurred in the past year and could impact Raymond James' earnings. For the previous quarter ending in December, the company said it had already accrued $50 million in expenses. Raymond James next reports earnings later this month.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access