Illinois Sends Hearing Notice to A.G. Edwards

The securities department of the Illinois Secretary of State has sent a hearing notice to A.G. Edwards charging the company facilitated market-timing practices, Dow Jones reports.

The regulator made the revelation in a quarterly filing with the Securities and Exchange Commission. The document said the company engaged in market timing between January 2001 and October 2003 and lacked policies and procedures to detect and prevent it.

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