Edward Jones censured and fined $200,000 for failure to supervise securities transactions

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Furgison Law Group investigates claims against Edward D. Jones & Co., L.P.

Edward Jones under investigation for failure to supervise

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Edward D. Jones & Co., L.P., for failure to supervise securities transactions. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

FINRA fines Edward Jones $200,000 

FINRA censured and fined Edward D. Jones & Co., L.P. (CRD #250, St. Louis, Missouri) $200,000. The firm consented to the sanctions and to the entry of findings that it failed to reasonably supervise and have an adequate supervisory system, including adequate WSPs, to address short positions in tax-exempt municipal bonds that resulted primarily from trading errors. The findings stated that as a result of these supervisory failures, the firm inaccurately represented to its customers holding municipal bonds that at least $129,624.06 in interest that the firm paid to those customers was exempt from taxation. In fact, the firm did not hold the bonds on behalf of the customers, and the interest that the customers received was paid by the firm and thus taxable as ordinary income. The firm failed to consider whether the interest paid to customers should be coded as non-taxable when the interest was paid by the firm rather than the municipal issuer.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages. 

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Edward D. Jones & Co., L.P., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.