WealthManagement Magazine

Edwards Weighing How to Settle

A.G. Edwards is ready to talk about paying for its transgressions in the sale of Class B and Class C mutual fund shares. In its annual report, A.G. Edwards said the NASD has recommended disciplinary actions against the firm. According to the report, the NASD proposed a settlement with a substantial fine and the firm is the proposal and will soon decide whether or not to settle. The NASD had investigated

A.G. Edwards is ready to talk about paying for its transgressions in the sale of Class B and Class C mutual fund shares.

In its annual report, A.G. Edwards said the NASD has recommended disciplinary actions against the firm. According to the report, the NASD proposed a settlement — with a substantial fine — and the firm is “reviewing” the proposal and will soon decide whether or not to settle.

The NASD had investigated the firm's sales practices related to IRA accounts in 2001 and 2002. The NASD says some mutual fund companies made extra payments to the firm for preferential treatment. The firm said it could not speculate as to the size of the fines.

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