Edwards over allegations that the firm accepted kickbacks from
mutual fund companies in 2001 and 2002 in exchange for marketing their products to certain retail customers, A.G. Edwards indicated in a regulatory filling.
The NASD is seeking the disgorgement of profits, sanctions and restitution. But via an e-mail to Reuters, the company disputed the allegations and said it plans to vigorously defend itself against the charges. A.G. Edwards also said the payments did not result in increased fees for clients.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.