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.

Edward Jones settled with the SEC in December 2004, without admitting or denying the charges that it entered into revenue-sharing agreements with fund companies worth tens of millions of dollars without disclosing the conflict of interest to investors. Those fund that paid Edward Jones were labeled “preferred,” which the brokerage told customers was due to their long-term investment objectives and performance.

James R. Doty of Baker Botts is the fund administrator responsible for distributing the fair fund.

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