The Securities and Exchange Commission and the New York Stock Exchange have alerted A.G. Edwards Inc. they intend to impose disciplinary action against the firm, A.G. Edwards indicated in an SEC filing. The SEC has issued a "Wells Notice" telling the brokerage firm it is likely to bring a civil injunctive action against the firm for allowing clients to market time mutual funds prior to October 2003.

Meanwhile, the NYSE is investigating the firm's Client Choice accounts, fee-based accounts that limit trading, but the firm has said it has told the Big Board it does not believe disciplinary action is warranted.

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