Edward D. Jones & Co., L.P. has agreed to pay a fine of $125,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From January 2018 through April 2021, Edward Jones failed to report approximately 2.7 million fractional share liquidations to the FINRA/Nasdaq Trade Reporting Facility (TRF) or the Over-the-Counter Reporting Facility (ORF), in violation of FINRA Rules 6380A, 6622, and 2010.

During the same period, the firm failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to comply with its trade reporting obligations for fractional share trades, in violation of FINRA Rules 3110(a) and (b) and 2010.

For these violations, the firm has agreed to a censure, in addition to a fine of $125,000. It is also required to pay the regulatory transaction fees owed for the unreported fractional share trades pursuant to Section 3 of Schedule A to FINRA’s By-Laws.

Edward Jones, a self-clearing retail broker-dealer, has been a member of FINRA since 1939. The firm is headquartered in St. Louis, Missouri, and has approximately 25,000 registered representatives and approximately 15,000 branch offices.