or moved the mutual fund ….

or moved the mutual fund shares sooner than originally anticipated. The states found gaps in Edward Jones’s supervisory procedures in this respect.

As part of the settlement, Edward Jones will pay each of the 50 states, Washington, D.C., the U.S. Virgin Islands, and Puerto Rico an administrative fine of approximately $320,000. Montana was a lead state in this investigation, so it received an additional payment of $15,000 for its administrative and investigatory costs. In evaluating the supervisory failures and determining the appropriate resolution, the states considered certain facts, such as the positive performance of the investment advisory accounts compared to the brokerage accounts.

For inquiries, contact David Sanders, CSI Communications, at 406-444-3778 or dsanders@mt.gov.