SEC & DOJ Prosecutions
$75 Million Settlement with St. Louis Broker-Dealer on Revenue Sharing Charges
In the Matter of Edward D. Jones & Co., L.P., Respondent
- $75 Million
Respondent, one of the largest sellers of brokerage-sold mutual funds in the U.S., internally designated certain of the mutual fund families with which it had selling agreements as “recommended.” However, it allegedly failed to disclose that it received tens of millions of dollars from these fund families via under-the-table revenue sharing arrangements.