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NASAA member states settle with brokerage firms over excessive fees

Photo: Tanja Ivanova/Getty Images

Alexander Barzacanos

1 min read
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The investigation was conducted jointly by seven state securities regulators.

The North American Securities Administrators Association (NASAA) has announced that state securities regulators had fined Edward Jones, LPL Financial, RBC, Stifel and TD Ameritrade up to $9,345,000, plus costs and restitution, for charging unreasonable commissioners to retail customers for low-value trades.

A working group comprising state securities regulators from Alabama, Iowa,

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