Skip to content Skip to navigation

Raymond James Processing Fee Settlement

Settlement Structure: 
Case Summary: 

This settlement resolves two different class actions, one against Raymond James and Associates and the other against Raymond James Financial Services. The complaints made similar allegations, that is, that Raymond James charged a “processing fee” to customers who took part in its Passport Investment Account Program, sometimes labeled as a miscellaneous fee on trade confirmations. The fee was higher than the execution and clearing charges  Raymond James claimed it was for, and the complaints claimed that this was “an undisclosed and unauthorized profit” to the company or “a de facto commission … in what was supposed to be a commission free account…”

Docket Number: 
Raymond James
Class Period: 
Wednesday, February 17, 2010 to Sunday, June 30, 2019
Objection Deadline: 
Friday, September 13, 2019
Exclusion Deadline: 
Friday, September 13, 2019
Final Approval Hearing: 
Friday, October 25, 2019
Company Name "Raymond James" on Brick Building