AG Edwards expects disciplinary action
St. Louis, MO – The St. Louis-based investment firm A-G Edwards says it may face discipline over its questioned sale of mutual funds.
The company says in a government filing that the National Association of Securities Dealers has recommended action against A.G. Edwards.
At issue the sale of certain mutual funds for which certain mutual fund companies made additional payments to A.G. Edwards for the sales. Also at issue is the sale includes mutual fund class B and C shares, when class A shares might have been better.
A.G Edwards says the NASD orally proposed a settlement, including a fine, and that the company is reviewing the allegations.