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Violation Tracker Individual Record

Company: Edward Jones & Co.
Current Parent Company: Jones Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $7,500,000
Year: 2008
Date: September 10, 2008
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The California Attorney General announced a $7.5 million settlement with financial-services firm Edward Jones & Co. regarding the company's failure to inform its customers of its revenue-sharing agreements with various mutual-fund companies. In these revenue-sharing agreements, Edward Jones obtained payments from mutual fund companies in exchange for promoting their mutual funds to its clients.
Level of Government: state
Action Type: agency action
Agency: California Attorney General
Civil or Criminal Case: civil
Facility State: California
HQ Country of Current Parent: USA
HQ State of Current Parent: Missouri
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.