meta_id 3130153

On May 5, 2026, the Washington Department of Financial Institutions, Securities Division issued a consent order against Edward D. Jones & Co., L.P. (Edward Jones), a broker-dealer registered in Washington since April 20, 1983. The order resolves violations of the Securities Act of Washington (chapter 21.20 RCW) relating to unreasonable commissions charged on equity transactions. During a coordinated investigation covering the period from May 1, 2020, to April 30, 2025, Washington determined that Edward Jones charged unreasonable commissions on approximately 25,616 equity transactions in the state. These transactions exceeded the Financial Industry Regulatory Authority (FINRA) guideline of 5 percent of the principal trade amount, with commissions totaling $361,844.96. Nationwide, Edward Jones charged unreasonable commissions on approximately 781,240 equity transactions totalling $11,287,504 during the same period. The violations stemmed from Edward Jones's application of a minimum fixed commission of $50 on certain equity transactions and its failure to reasonably supervise these transactions to ensure commissions were fair and reasonable, despite having policies and procedures in place to conduct such reviews. Under the consent order, Edward Jones must cease and desist from violations of Washington Administrative Code 460-20C-150(1)(e), is censured by the Division, and must pay restitution of no less than $361,844.96 plus 6 percent interest to affected Washington customers within 180 days. Edward Jones must also pay an administrative fine of $100,000 and investigation costs of $25,000 within 15 days of the order. Additionally, Edward Jones must enhance its policies and procedures within 60 days to prevent unreasonable commissions and ensure compliance systems incorporate all transactions regardless of principal amount.