Raymond James (USA) Ltd.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the

circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
NASD
2.
Principal Sanction:
Censure
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
04/12/2006
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
E112005000901
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
No Product
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
SEC RULE 17A-4 REQUIRES THAT BROKERAGE FIRMS MAINTAIN AND PRESERVE, FOR A PERIOD OF NOT LESS THAN THREE YEARS, ELECTROIC
COMMUNICATIONS RELATING TO THE FIRM'S BUSINESS AS A BROKER-DEALER. IN NOTICE TO MEMBERS 01-80 AMD 03-33, NASD COMMUNICATED TO
MEMBERS THEIR RECORDKEEPING AND SUPERVISORY OBLIGATIONS WITH RESPECT TO ELECTRONIC COMMUNICATIONS, INCLUDING E-MIAL AND
INSTANT MESSAGING. FROM DECEMBER 2003 THROUGH APRIL 2005, RAYMOND JAMES LTD. STORED ELECTRONIC COMMUNICATIONS ON VARIOUS
COMPUTER SERVERS. ELECTRONIC COMMUNICATIONS STORED ON CERTAIN OF THOSE SERVERS, HOWEVER, ARE NO LONGER RETRIEVABLE. AS A
RESULT, THE FIRM DID NOT MAINTAIN AND PRESERVE ALL ELECTRONIC COMMUNICATIONS AS REQUIRED BY SEC RULE 17A-4. THIS CONDUCT
CONSTITUES SEPARATE AND DISTINCT VIOLATIONS OF SEC RULE 17A-4 AND NASD CONDUCT RULES 3110 AND 2110.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Acceptance, Waiver & Consent(AWC)
11. Resolution Date (MM/DD/YYYY):
05/09/2006
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 50,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
SEC RULE 17A-7 UNDERTAKING - RECORDS OF NON-RESIDENT BROKER DEALERS UNDERTAKES TO FUNISH AT ITS OWN EXPENSE TO THE
SECURITIES AND EXCHANGE COMMISSION ("SEC") AT ITS PRINCIPAL OFFICE IN WASHINGTON, DC, OR AT ANY REGIONAL OR DISTRICT OFFICE

OF SAID COMMISSION, TRUE, CORRECT, COMPLETE AND CURRENT COPIES OF ANY OR ALL, OR ANY PART, OF THE BOOKS AND RECORDS WHICH
IS REQUIRED TO MAKE, KEEP CURRENT OR PRESERVE PURSUANT TO ANY PROVISION OF ANY RULE OR REGULATION OF THE SEC UNDER THE
SECURITIES AND EXCHANGE ACT OF 1934. THIS UNDERTAKING SHALL BE SUSPENDED DURING ANY PERIOD WHEN MAKING, KEEPING CURRENT,
AND PRESERVING COPIES OF ALL OF SAID BOOKS AND RECORDS AT A PLACE WITHIN THE UNITED STATES IN COMPLIANCE WITH RULE 17A-7
UNDER THE EXCHANGE ACT.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THE FIRM WAS CENSURED AND FINED $50000.00. FIRM IS AWAITING PAYMENT ARRANGEMENTS OR PAYMENT DETAILS FORM THE NASD FINANCE
DEPARTMENT. THE FIRM SIGNED THE LETTER OF ACCEPTANCE, WAIVER AND CONSENT, ON APRIL 27TH, 2006 AND ACCEPTED BY NASD MAY 9TH,
2006. PAYMENT FOR $50,000 US WAS SUBMITTED BY CHEQUE ON MAY 12, 2006.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
THE FIRM SIGNED THE LETTER OF ACCEPTANCE, WAIVER AND CONSENT, ON APRIL 27TH, 2006 AND ACCEPTED BY NASD MAY 9TH, 2006. PAYMENT FOR
$50,000 US WAS SUBMITTED BY CHEQUE ON MAY 12, 2006.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
8187890
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
DANIELAK, MARTIN, DOMINIK
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 

B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
CANADIAN INVESTMENT REGULATORY ORGANIZATION (FORMERLY INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC).
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
05/16/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
RICHARDSON WEALTH
6.
Principal Product Type:
Equity Listed (Common & Preferred Stock)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
BETWEEN OCTOBER 2019 AND NOVEMBER 2019, THE RESPONDENT ENTERED ORDERS FOR THE SHARES OF CITATION GROWTH CORP., THAT HE OUGHT
REASONABLY TO HAVE KNOWN WOULD CREATE, OR COULD REASONABLY BE EXPECTED TO CREATE, A FALSE OR MISLEADING APPEARANCE OF TRADING
ACTIVITY OR INTEREST IN THE PURCHASE OR SALE OF THE SECURITY, CONTRARY TO UMIR 2.2(2); AND (B) BETWEEN OCTOBER 2019 AND NOVEMBER
2019, THE RESPONDENT FAILED TO COMPLY WITH HIS DEALER MEMBER'S POLICIES AND PROCEDURES BY COMMUNICATING WITH HIS CLIENT BY WAY
OF TEXT MESSAGES USING UNAPPROVED THIRD-PARTY COMMUNICATION APPLICATIONS, CONTRARY TO INVESTMENT DEALER RULE 1400
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Settled
11. Resolution Date (MM/DD/YYYY):
04/10/2023
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 21,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
RE-WRITE REGISTRATION COURSE
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 

2 MONTH SUSPENSION $105 DISGORGEMENT
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
IN 2023, MARTIN WAS FOUND GUILTY BY CIRO'S ENFORCEMENT DIVISION OF: A) ENTERING ORDERS FOR A SECURITY THAT HE OUGHT REASONABLY TO
HAVE KNOWN WOULD CREATE, OR COULD REASONABLY BE EXPECTED TO CREATE, A FALSE OR MISLEADING APPEARANCE OF TRADING ACTIVITY OR
INTEREST IN THE PURCHASE OR SALE OF THE SECURITY, CONTRARY TO CANADIAN SECURITIES REGULATIONS, AND B) USING OFF-CHANNEL
COMMUNICATION (TEXT MESSAGING) TO COMMUNICATE WITH CLIENTS, CONTRARY TO THE POLICIES AND PROCEDURES OF THE BROKER-DEALER THAT
HE WAS REGISTERED WITH AT THE TIME. BOTH AFOREMENTIONED OFFENSES OCCURRED IN OCT TO NOV 2019. AS SUCH, MARTIN WAS SANCTIONED
BY CIRO WITH A FINE OF CAD $21,000 ($15,000+ USD), A TWO-MONTH SUSPENSION FROM THE CANADIAN MARKETPLACE, DISGORGEMENT OF
COMMISSIONS AND PAYING BACK COSTS.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
8187890
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
DANIELAK, MARTIN, DOMINIK
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
CANADIAN INVESTMENT REGULATORY ORGANIZATION (CIRO), FORMERLY, INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
05/16/2023
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
RICHARDSON WEALTH
6.
Principal Product Type:
Equity Listed (Common & Preferred Stock)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
BETWEEN OCTOBER 2019 AND NOVEMBER 2019, THE RESPONDENT ENTERED ORDERS FOR THE SHARES OF CITATION GROWTH CORP., THAT HE OUGHT
REASONABLY TO HAVE KNOWN WOULD CREATE, OR COULD REASONABLY BE EXPECTED TO CREATE, A FALSE OR MISLEADING APPEARANCE OF TRADING
ACTIVITY OR INTEREST IN THE PURCHASE OR SALE OF THE SECURITY, CONTRARY TO UMIR 2.2(2); AND (B) BETWEEN OCTOBER 2019 AND NOVEMBER
2019, THE RESPONDENT FAILED TO COMPLY WITH HIS DEALER MEMBER'S POLICIES AND PROCEDURES BY COMMUNICATING WITH HIS CLIENT BY WAY
OF TEXT MESSAGES USING UNAPPROVED THIRD-PARTY COMMUNICATION APPLICATIONS, CONTRARY TO INVESTMENT DEALER RULE 1400
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Settled
11. Resolution Date (MM/DD/YYYY):
04/10/2023
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 15,468.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
ASKED TO REWRITE REGISTRATION COURSE.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
TWO MONTHS
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
IN 2023, MARTIN WAS FOUND GUILTY BY CIRO'S ENFORCEMENT DIVISION OF: A) ENTERING ORDERS FOR A SECURITY THAT HE OUGHT REASONABLY TO

HAVE KNOWN WOULD CREATE, OR COULD REASONABLY BE EXPECTED TO CREATE, A FALSE OR MISLEADING APPEARANCE OF TRADING ACTIVITY OR
INTEREST IN THE PURCHASE OR SALE OF THE SECURITY, CONTRARY TO CANADIAN SECURITIES REGULATIONS, AND B) USING OFF-CHANNEL
COMMUNICATION (TEXT MESSAGING) TO COMMUNICATE WITH CLIENTS, CONTRARY TO THE POLICIES AND PROCEDURES OF THE BROKER-DEALER THAT
HE WAS REGISTERED WITH AT THE TIME. BOTH AFOREMENTIONED OFFENSES OCCURRED IN OCT TO NOV 2019. AS SUCH, MARTIN WAS SANCTIONED
BY CIRO WITH A FINE OF CAD $21,000 ($15,000+ USD), A TWO-MONTH SUSPENSION FROM THE CANADIAN MARKETPLACE, DISGORGEMENT OF
COMMISSIONS AND PAYING BACK COSTS.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
NASD
2.
Principal Sanction:
Censure
Other Sanctions: 

3.
Date Initiated (MM/DD/YYYY): 
04/12/2006
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
E112005000901
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
No Product
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
SEC RULE 17A-4 REQUIRES THAT BROKERAGE FIRMS MAINTAIN AND PRESERVE, FOR A PERIOD OF NOT LESS THAN THREE YEARS, ELECTROIC
COMMUNICATIONS RELATING TO THE FIRM'S BUSINESS AS A BROKER-DEALER. IN NOTICE TO MEMBERS 01-80 AMD 03-33, NASD COMMUNICATED TO
MEMBERS THEIR RECORDKEEPING AND SUPERVISORY OBLIGATIONS WITH RESPECT TO ELECTRONIC COMMUNICATIONS, INCLUDING E-MIAL AND
INSTANT MESSAGING. FROM DECEMBER 2003 THROUGH APRIL 2005, RAYMOND JAMES LTD. STORED ELECTRONIC COMMUNICATIONS ON VARIOUS
COMPUTER SERVERS. ELECTRONIC COMMUNICATIONS STORED ON CERTAIN OF THOSE SERVERS, HOWEVER, ARE NO LONGER RETRIEVABLE. AS A
RESULT, THE FIRM DID NOT MAINTAIN AND PRESERVE ALL ELECTRONIC COMMUNICATIONS AS REQUIRED BY SEC RULE 17A-4. THIS CONDUCT
CONSTITUES SEPARATE AND DISTINCT VIOLATIONS OF SEC RULE 17A-4 AND NASD CONDUCT RULES 3110 AND 2110.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Acceptance, Waiver & Consent(AWC)
11. Resolution Date (MM/DD/YYYY):
05/09/2006
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 50,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
SEC RULE 17A-7 UNDERTAKING - RECORDS OF NON-RESIDENT BROKER DEALERS UNDERTAKES TO FUNISH AT ITS OWN EXPENSE TO THE
SECURITIES AND EXCHANGE COMMISSION ("SEC") AT ITS PRINCIPAL OFFICE IN WASHINGTON, DC, OR AT ANY REGIONAL OR DISTRICT OFFICE
OF SAID COMMISSION, TRUE, CORRECT, COMPLETE AND CURRENT COPIES OF ANY OR ALL, OR ANY PART, OF THE BOOKS AND RECORDS WHICH
IS REQUIRED TO MAKE, KEEP CURRENT OR PRESERVE PURSUANT TO ANY PROVISION OF ANY RULE OR REGULATION OF THE SEC UNDER THE
SECURITIES AND EXCHANGE ACT OF 1934. THIS UNDERTAKING SHALL BE SUSPENDED DURING ANY PERIOD WHEN MAKING, KEEPING CURRENT,
AND PRESERVING COPIES OF ALL OF SAID BOOKS AND RECORDS AT A PLACE WITHIN THE UNITED STATES IN COMPLIANCE WITH RULE 17A-7
UNDER THE EXCHANGE ACT.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THE FIRM WAS CENSURED AND FINED $50000.00. FIRM IS AWAITING PAYMENT ARRANGEMENTS OR PAYMENT DETAILS FORM THE NASD FINANCE
DEPARTMENT. THE FIRM SIGNED THE LETTER OF ACCEPTANCE, WAIVER AND CONSENT, ON APRIL 27TH, 2006 AND ACCEPTED BY NASD MAY 9TH,
2006. PAYMENT FOR $50,000 US WAS SUBMITTED BY CHEQUE ON MAY 12, 2006.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
RAYMOND JAMES LTD.
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
MARKET REGULATION SERVICES INC. (CANADA)
2.
Principal Sanction:
Other
Other Sanctions: 
REGULATORY FINES
3.
Date Initiated (MM/DD/YYYY): 

04/27/2006
 Exact
 Explanation
If not exact, provide explanation:
THIS IS THE DATE THAT NEGOTIATIONS COMMENCED WITH SRO TOWARDS A SETTLEMENT AGREEMENT.
4.
Docket/Case Number:
NO 2006-006
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
RAYMOND JAMES LTD.
6.
Principal Product Type:
Money Market Fund(s)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
IN THE PERIOD FEBRUARY 2003 TO FEBRUARY 2005, RAYMOND JAMES LTD CONTRAVENED RS INC UNIVERSAL MARKET INTEGRITY RULES ("UMIR")
RELATING TO CLIENT PRIORITY, FAILURE TO RECORD CLIENT CONSENTORDER MAKINGAND AUDIT TRAIL ON NUMEROUS OCCASIONS. IN THE PERIOD
JULY 2003 TO FEBRUARY 2005, RAYMOND JAMES LTD. FAILED TO COMPLY WITH ITS TRADING SUPERVISION OBLIGATIONS UNDER UMIR 7.1 (1) AND
POLICY 7.1
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Settled
11. Resolution Date (MM/DD/YYYY):
06/30/2006
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 525,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
FINE OF $400,000.00 PAYABLE BY RAYMOND JAMES LTD TO MARKET REGULATION SERVICES INC. ("RS") COSTS OF $125,000.00 PAYABLE TO RS
TOTAL FINE AND COSTS $525,000.00 AS INDICATED ABOVE
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
THE DISPLINARY NOTICE HAS BEEN SETTLED AND NO FURTHER ACTION TAKEN AS STATED ABOVE. TOTAL FINE PLUS COSTS OF $525,000.00