SEC OKs Settlement With Edward Jones
From Bloomberg News
The Securities and Exchange Commission approved a $75-million settlement with Edward Jones & Co. over allegations that the brokerage failed to tell clients about its hidden marketing deals with mutual funds.
Edward Jones will tell the public about future revenue-sharing payments on its website and hire an independent consultant to review those disclosures, the SEC said.
The accord resolves claims by the SEC, the NASD and the New York Stock Exchange.
