Raymond James (RJF +2.2%) agrees to buy back $300M of auction rate securities and pay a $1.8M...

|About: Raymond James Financial Inc. (RJF)|By:, SA News Editor

Raymond James (RJF +2.2%) agrees to buy back $300M of auction rate securities and pay a $1.8M fine to settle charges with the SEC. The firm was accused of marketing the securities as safe, liquid alternatives to money market funds prior to the 2008 crash.