A firm other than EJ was fined?
UBS was fined $49.5 million for market timing? How can this be! I thought only EJ was the only firm that conducted business this way.
I don’t think market timing was on the list of misdeeds that Edward Jones was charged with, was it?
[quote=joedog]UBS was fined $49.5 million for market timing? How can this be! I thought only EJ was the only firm that conducted business this way.
JoeDog get a clue, name another BD that was fined 75 MILLION and their Managing General Partner (President or CEO) Doug "3Mil Hill was personally fined 3 Million for a get out of jail card?
Did UBS President have to pay a personal fine. or go to JAIL?
You are drinking way too much Kool Aid
Based on the size of assets and IR's atEdward Jones as compared to other Firms, Edward Jones was the highest FINE in the history of our industry..............FACT
That's what happens when you tell everyone how your ethical standards and practice are way above the everyone.......REALITY BITES
What really sucks, are you DRONES & CLONES saying it's no big deal, when it is actually the BIGGEST DEAL (FINES) so far in Securities Industry history............................
What will be a really big deal is when the Calif AG takes that Jones wagging finger and shoves it up the GP's @sses.
Thank you sir may I have another..........
I doubt if anyone @ jones is clever enough to “time” the mkt. I heard that the jones offices don’t have clocks…the home office has to call with the time.
Yes, EJ was tagged for market timing, but apparently not $49.5 mil worth of market timing.
Player, save your breath. $3 Mil Hill was aggorgant enough to say our $hit didn’t stink without smelling it first. And please, Doug did not pay a personal fine or go to jail as you initimate. If you read the settlement all the GP’s had to pay the fine with Hill paying a higher percentage of it. All the GPs paid (for the most part). He also did not go to jail. Were you on the Alito hearings? You sound like that senator who asked if Alito was a bigot. Of course he’s not.
To you, if you are not anti-Jones then you are for it. That’s not always the case.
I am merely pointing out that if you open the right closet doors, you see that other firms have their own skeletons:
- ML, WF, and LPL’s fine for improper MF sales.
- Oppy’s fine to mislead the public on MF breakpoints.
- Janney’s fine for market timing (which includes restitution)
Regardless of EJs fine, a $49.5 million one is nothing to sneeze at.
I said it before and I’ll say it again, the GPs at EJ are making decisions that make THEM the most money. In a previous post someone wrote that EJ is for the long term serious GP. That says it all.
(The koolaid was dumped a long time ago)
Once again the jonesers “oh look they did it too” response v addressing how they dooped their clients. What a joke this firm is.
Please work on your reading comprehension and memory skills, this is something the other posters (especially that joker Bill Faakland) from your firm are guilty of or is it just slective memory issues?
Nowhere has it been stated that your firm was fined for market timing, they settled with DOJ and Hills portion of the settlement was $3MM AND he had to step down from mp role. Had your firm NOT made this settlement, then yes there might have been tougher ramifications of which Player alluded to.
First, I’ll admit that I misposted - it was late trading, not market timing. My bad.
Second, I am not justifying EJs bad business behavior because ‘other firm’s do it’. The firm is a joke, but I submit they’re not alone.
CompJerk - Player tried to insinuate something that wasn’t true. Yes all that COULD have happened, but it didn’t.
Again, most here look at this as your either with us or against us. You all would make ‘W’ proud.