The July 17 news item referring to a $75 million settlement between Edward Jones and the Securities and Exchange Commission over revenue-sharing agreements actually refers to the 2004 case. The SEC reissued its entire administrative proceedings due to a minor change that reflects its recent decision to permit Edward Jones to disclose its revenue-sharing agreements to investors at the time of a mutual fund purchase rather than requiring the firm to do so both at the time of purchase and redemption. MME regrets the error.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
6h ago -
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
8h ago -
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
8h ago -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
9h ago -
The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15