Violation Tracker Individual Record

Company: 
Edward Jones & Co.
Current Parent Company: 
Jones Financial
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 Parent: 
USA
HQ State of Parent: 
Missouri
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.