NASAA announces $17m multi-state settlement with Edward Jones

Investigation involved 14 state regulators examining how the firm supervised the transferring of brokerage account assets into advisory accounts.

The North American Securities Administrators Association (NASAA) has announced a $17m settlement with Edward D Jones & Co, LP after conducting an investigation into the broker-dealer’s supervision of customers paying front-load commissions for Class A mutual fund shares in light of later moving brokerage account assets into fee-based investment advisory

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