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Edward Jones ETF Issues – Censured and Fined $200,000

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Edward Jones was censured and fined $200,000 for its stockbrokers improperly recommending ETF’s (Exchange Traded Funds) to customers. Exchange Traded Funds (ETF’s) are one of the newest Wall Street products and their sales are growing hugely each year. Edward Jones allowed its stockbrokers to recommend ETF’s, a non-traditional product, without even training or adequately educating the stockbrokers on when an ETF recommendation would be suitable, and when not. Some of the stockbrokers recommended ETF’s to customers who did not say they were willing to take substantial risks.

ETF’s are not typically suitable for investors who plan to hold them for more than one trading sessions, particularly in volatile markets. Edward Jones failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with the regulatory rules in connection with the sale of ETF.s. Edward Jones failed to supervise and monitor transactions and did not exercise due diligence in investigating the ETFs.

Edward Jones did not ensure that its stockbrokers obtained adequate information and instruction regarding the ETF’s before recommending those products to customers. (January, 2014 201022283702).


When we take action against stockbroker misconduct, we help level the playing field for all brokers.

If you aware of stock broker misconduct that is not being addressed, contact us:

Fogel & Associates
15260 Ventura Blvd.
Suite 2250
Sherman Oaks, CA 91403-5338
By phone: Call us toll-free at 1 (888) 986-9010
By email: Please fill out the form to the right

Contact StockBrokerLawyer now for a free, confidential review of your losses, and if they can be recovered.  The passage of time is always used as a defense, don’t delay, contact us now by calling (888) 986-9010, or emailing on the form provided.  We will respond as soon as possible, and having an independent no-cost review will help answer your questions.  We never share your personal information with third parties.


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