{"id":4403,"date":"2007-05-02T15:13:15","date_gmt":"2007-05-02T15:13:15","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/05\/edward_d_jones_issues_settleme"},"modified":"2007-05-02T15:13:15","modified_gmt":"2007-05-02T15:13:15","slug":"edward-d-jones-issues-settleme","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/edward-d-jones-issues-settleme\/","title":{"rendered":"Edward Jones Issues Settlement Checks To Customers as Ordered by SEC for Kickback Scheme"},"content":{"rendered":"<p>\t\t\t\tEdward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims. The Securities and Exchange Commission announced the distribution of $79 million from the &#8220;Fair Fund&#8221; (also known as the &#8220;Edward Jones &amp; Co., L.P. Qualified Settlement Fund&#8221;) as compensation to victims of Edward Jones&#8217; practices according to the settlement reached. These payments do not compensate Jones&#8217; clients for any losses caused by any other unfair sales practices.<\/p>\n<p>According to the SEC, Edward Jones failed to adequately disclose kickbacks the firm received from various mutual fund companies, known as the &#8220;Preferred Fund Families.&#8221; The Preferred Families mutual funds are American Funds; Federated Investors; Goldman Sachs Group; Hartford Mutual Funds; Lord Abbott Funds; Putnam Investments; and Van Kampen Investments. The SEC&#8217;s order is available on the <a href=\"https:\/\/www.sec.gov\/\">SEC website<\/a>.<\/p>\n<p>Edward Jones&#8217; kickback scheme impacted approximately 2.1 million of its customers who purchased shares of the Preferred Fund Families between January 1, 1999 and December 31, 2004. The firm told the public and its customers it was promoting the sale of the Preferred Families&#8217; mutual funds because of the funds&#8217; long-term investment objectives and performance. However, Edward Jones failed to disclose that it received tens of millions of dollars of undisclosed revenue sharing payments from the Preferred Families each year for selling their mutual funds.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/edward-d-jones-issues-settleme\/\"  title=\"Continue Reading Edward Jones Issues Settlement Checks To Customers as Ordered by SEC for Kickback Scheme\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Edward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims. The Securities and Exchange Commission announced the distribution of $79 million from the &#8220;Fair Fund&#8221; (also known as the &#8220;Edward Jones &amp; Co., L.P. Qualified Settlement Fund&#8221;) as compensation to [&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":[3805,3738,3760],"tags":[],"class_list":["post-4403","post","type-post","status-publish","format-standard","hentry","category-edward-d-jones","category-investor-fraud","category-sec-enforcement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Edward Jones Issues Settlement Checks As Ordered by SEC &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Edward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims\" \/>\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-d-jones-issues-settleme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Edward Jones Issues Settlement Checks As Ordered by SEC &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"Edward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Edward Jones Issues Settlement Checks As Ordered by SEC &#8212; Investor Lawyers Blog","description":"Edward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims","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-d-jones-issues-settleme\/","twitter_card":"summary_large_image","twitter_title":"Edward Jones Issues Settlement Checks As Ordered by SEC &#8212; Investor Lawyers Blog","twitter_description":"Edward Jones is now sending checks and making electronic payments to its current and former customers as part of its settlement of revenue sharing claims","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/edward-d-jones-issues-settleme\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/edward-d-jones-issues-settleme\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Edward Jones Issues Settlement Checks To Customers as Ordered by SEC for Kickback Scheme","datePublished":"2007-05-02T15:13:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/edward-d-jones-issues-settleme\/"},"wordCount":415,"articleSection":["Edward D. 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