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

Image of a person gesturing in front of an screen with stock information at a brokerage house.
Photo: Jie Zhao/Corbis via Getty Images

Julie DiMauro

1 min read
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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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