Bulletin 3216 - October 10, 2025

The Department of Banking News Bulletin

Bulletin # 3216 - Week Ending October 10, 2025

This Bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Edward D. Jones & Co., L.P. (CRD No. 250)

On October 8, 2025, the Banking Commissioner entered a Consent Order (No. CO-25-202525-S) with respect to Edward D. Jones & Co., L.P., a Connecticut registered broker-dealer located at 12555 Manchester Road, St. Louis, Missouri 63131-3710.

The Consent Order followed a multistate investigation spearheaded by the North American Securities Administrators Association, Inc. ("NASAA") which uncovered evidence that the firm charged a minimum fixed commission of $50 on certain stock transactions. This commission rate superseded the 5% limit set out in Financial Industry Regulatory Authority ("FINRA") rules. In addition, the investigation uncovered evidence that improved supervisory practices could have alleviated the problem.

The alleged misconduct occurred from May 1, 2020 to April 30, 2025. Transaction-wise, 5,278 equity transactions (totaling $72,702.37) were involved in Connecticut.

The Consent Order alleged that, by failing to adequately supervise small principal equity transactions where the minimum equity commission exceeded 5%, the firm violated Section 36b-31-6f(b) of the Regulations under the Connecticut Uniform Securities Act governing supervisory obligations.

The Consent Order fined the firm $100,000. In addition, the Consent Order required that $72,702.37 in restitution be paid to Connecticut investors within 180 days. The Consent Order also required that the firm provide the agency with documentation certifying that its compliance and operational systems had been revised to identify and review potentially excessive commissions.

Dated: Tuesday, October 14, 2025

Jorge L. Perez
Banking Commissioner