{"id":1690,"date":"2015-08-13T22:33:36","date_gmt":"2015-08-13T22:33:36","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/08\/edward_jones_to_pay_20m_to_res"},"modified":"2022-03-22T14:26:30","modified_gmt":"2022-03-22T19:26:30","slug":"edward-jones-to-pay-20m-to-res","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/","title":{"rendered":"Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges"},"content":{"rendered":"<p>\t\t\t\tEdward D. Jones &amp; Co., the brokerage firm subsidiary of Jones Financial Companies, has consented to pay $20 million to resolve U.S. Securities and Exchange Commission allegations accusing the firm of overcharging clients by at least $4.6 million on new municipal bond sales. The regulator contends that the brokerage firm offered bonds at a higher price than what securities laws require.<\/p>\n<p>Underwriters are supposed to sell new bonds at an initial offering price that was negotiated with the bond issuer. The SEC claims that instead of offering municipal bond sales to customers at the worked out a price, the firm allegedly brought the bonds into its own inventory and then later sold them at high prices. Also, said the Commission, in certain instances the bonds were offered to customers after they had already started to trade in the secondary market at higher prices than what was initially offered.<\/p>\n<p>The regulator said that at the very least Edwards Jones was negligent with the overcharges and its behavior was &#8220;inconsistent&#8221; with the standards and written agreements that govern municipal underwriting. The SEC says it will continue its probe into the matter.<br \/>\n <a href=\"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/#more-1690\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Edward D. Jones &amp; Co., the brokerage firm subsidiary of Jones Financial Companies, has consented to pay $20 million to resolve U.S. Securities and Exchange Commission allegations accusing the firm of overcharging clients by at least $4.6 million on new municipal bond sales. The regulator contends that the brokerage firm offered bonds at a higher [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3805,3752,3922,4039],"tags":[],"class_list":["post-1690","post","type-post","status-publish","format-standard","hentry","category-edward-d-jones","category-financial-firms","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges &#8212; Investor Lawyers Blog &#8212; August 13, 2015<\/title>\n<meta name=\"description\" content=\"Edward Jones &amp; Co has consented to pay $20 million to resolve U.S. SEC allegations accusing the firm of overcharging clients on new municipal bond sales.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges &#8212; Investor Lawyers Blog &#8212; August 13, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Edward Jones &amp; Co has consented to pay $20 million to resolve U.S. SEC allegations accusing the firm of overcharging clients on new municipal bond sales.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges &#8212; Investor Lawyers Blog &#8212; August 13, 2015","description":"Edward Jones & Co has consented to pay $20 million to resolve U.S. SEC allegations accusing the firm of overcharging clients on new municipal bond sales.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/","twitter_card":"summary_large_image","twitter_title":"Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges &#8212; Investor Lawyers Blog &#8212; August 13, 2015","twitter_description":"Edward Jones & Co has consented to pay $20 million to resolve U.S. SEC allegations accusing the firm of overcharging clients on new municipal bond sales.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Edward Jones to Pay $20M to Resolve Municipal Bond Sales Overcharges","datePublished":"2015-08-13T22:33:36+00:00","dateModified":"2022-03-22T19:26:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/edward-jones-to-pay-20m-to-res\/"},"wordCount":514,"articleSection":["Edward D. 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