The Securities and Exchange Commission announced Thursday that it has distributed $79 million to current and former customers of Edward Jones that were impacted by its revenue-sharing activity.

“This distribution marks a significant step in the Commission’s program to return money to investors injured by improper mutual fund practices,” said Linda Chatman Thomsen, director of the SEC’s division of enforcement.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.