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Articles Tagged with Raymond James Financial Services

Robert Edward White (CRD #3077959) is a former registered broker whose last employer was Raymond James Financial Services, Inc. (CRD #6694) of East Hampton, NY. His previous employer was 1st Global Capital Corp. (CRD #30349) of Dallas, TX. No current employment information is available. He has been in the industry since 1998.

https://www.silverlaw.com/blog/wp-content/uploads/2017/07/Broker-Sylvester-King-Jr.-Resigns-from-Wells-Fargo-Advisors-LLC-Concurrent-with-FINRA-Suspension1-300x200.jpgWhite was discharged from the Raymond James Financial Services on 4/3/2017 after it was discovered he had accepted cash gifts from a customer, and failed to disclose the gift to the firm. The firm’s policies prohibited registered representatives from accepting gifts over $100 per year from the firm’s customers. White accepted a total of $58,000 from a single firm customer, after certifying that he understood the policies on annual compliance questionnaires.

After an investigation, FINRA suspended White on 8/10/2018 for four months, effective 8/20/2018. White was also fined $10,000, and signed an Acceptance, Waiver & Consent (AWC) letter, agreeing to all sanctions. His suspension is scheduled to end on 12/19/2018. It is generally against a brokerage firm’s rules for a financial advisor to borrow money from a customer or otherwise accept cash gifts.

Taek Man Chong (CRD #1551743) is a previously registered broker and investment advisor who was last registered with Raymond James Financial Services, Inc. (CRD #6694) of Mercer Island, WA. His previous employers include Deutsche Bank Securities Inc. (CRD #2525) and SG Cowen Securities Corporation (CRD #7616) of New York, NY, and A. G. Edwards & Sons, Inc. (CRD #4) of St. Louis, MO. No current employment information is available. He has been in the industry since 1986.

Broker-William-Hutchinson-Barred-by-FINRA-300x200Two customer disputes were filed in May of 2018, both alleging overpayment of commissions, totaling $2,010,939.01. These disputes are currently listed as “pending.” According to FINRA documentation, Chong was under review for these disputes, which were related to large, institutional trades, and his registration with Raymond James was voluntarily terminated on May 22, 2018. He is not currently associated with any FINRA-member firm.

FINRA began an investigation, and sent a letter to Chong on May 25, 2018, requesting information related to the disputes. On June 19, 2018, Chong responded through counsel that he would not provide the requested information to FINRA at any time. FINRA issued an Acceptance, Waiver & Consent (AWC) letter, in which Chong neither admitted nor denied findings, and signed on June 22, 2018. FINRA subsequently barred Chong indefinitely, and in all capacities, effective June 28, 2018.

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