May 31, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of Raymond James Financial, Inc. (NYSE:RJF) was announced over potential breaches of fiduciary duties by certain officers and directors at Raymond James Financial.

The investigation by a law firm concerns whether certain Raymond James Financial officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Raymond James Financial, Inc. reported that its Total Revenue rose from over $4.96 billion for the 12 months period that ended on September 30, 2014 to over $5.3 billion for the 12 months period that ended on September 30, 2015 and that its Net Income for those respective time periods increased from $480.25 million to $502.14 million.

Shares of Raymond James Financial, Inc. (NYSE:RJF) grew from $41.04 per share in October 2013 to as high as $61.08 per share in June 2015. In February 2016 NYSE:RJF shares closed at $40.43 per share.

On May 18, 2016, the Financial Industry Regulatory Authority ('FINRA') issued a press release announcing that it had fined Raymond James & Associates, Inc. and Raymond James Financial Services, Inc., two of the Company's wholly owned subsidiaries, a total of $17 million for widespread failures related to the firms' anti-money-laundering ('AML') programs. Raymond James & Associates, Inc was fined $8 million and Raymond James Financial Services, Inc was fined $9 million for failing to establish and implement adequate anti-money-laundering procedures, which resulted in the firms' failure to properly prevent or detect, investigate, and report suspicious activity for several years. Raymond James & Associates, Inc's former anti-money-laundering Compliance Officer was also fined $25,000 and suspended for three months.