At the Bell; Edward Jones fined 300G by NASD.(Late News)

Investment News, October, 2005

Edward D. Jones & Co. LP of St. Louis was fined $300,000 by Washington-based NASD last Thursday for failing to disclose the yield in more than 86,000 municipal bond transactions totaling more than $1 billion in sales from January 2003 to April 2004.

Edward Jones, in a statement, said that it received no customer complaints and that the disclosure issue was limited to customers' selling, not purchasing, municipal bonds.

On Friday, NASD fined David Lerner Associates Inc. of Syosset, N.Y., $115,000 for misleading marketing materials, including radio ads, client seminars and other communications.

Pacific Financial to get new manager team

Old Mutual Asset Management of Boston, a unit of London-based Old Mutual PLC, said Friday...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.