Edward Jones pays up in mutual fund case - September 2008

September 10, 2008

Edward Jones & Co. will pay the state $7.5 million to settle a 4-year-old case involving the firm’s "revenue sharing" agreements with mutual fund companies.


Then-attorney-general Bill Lockyer sued Jones in 2004, alleging that it had failed to tell its customers about fee-splitting arrangements it had with various fund companies. Investors didn’t know about the incentive Jones brokers had to pitch some funds and not others.

For more details
http://latimesblogs.latimes.com/money_co/2008/09/edward-jones-fu.html