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August 5, 2013

Insider Trading Nets Profits for Raymond James

Charles Adams, a former advisor for Raymond James Financial Inc., was accused of insider trading by the Securities and Exchange Commission (SEC). The accusations were filed in July in the United States District Court for the Eastern District of Michigan. Raymond James Financial was also named in the case as an alleged beneficiary of Adams’ conduct. According to the SEC complaint, Adams, based upon information provided by one of his clients, made hundreds of thousands of dollars on stock and option transactions. The SEC alleges that Adams made transactions through two customer accounts.

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