MO Securities Enforcement Orders

TD Ameritrade Consent Order for Excess Commissions

The Missouri Securities Division has entered into a consent order with TD Ameritrade, Inc. for charging commissions exceeding 5% on certain small principal equity transactions between June 30, 2018, and June 30, 2023. TD Ameritrade agreed to this order without admitting or denying the allegations.

Edward Jones Charged Unreasonable Commissions - Consent Order

The Missouri Securities Division has issued a consent order against Edward D. Jones & Co., L.P. (Edward Jones) for charging unreasonable commissions on small principal equity transactions between May 1, 2020, and April 30, 2025. The firm allegedly charged commissions exceeding 5% on approximately 781,240 transactions, totaling over $11.2 million nationwide.

LPL Financial LLC Consent Order - Unreasonable Commissions

The Missouri Securities Division has entered into a consent order with LPL Financial LLC for charging unreasonable commissions on small principal equity transactions. LPL Financial LLC will pay $78,920.98 in commissions to Missouri residents for over 127,000 transactions nationwide between April 30, 2020, and April 30, 2025.

RBC Capital Markets LLC Consent Order on Commissions

The Missouri Securities Division has entered into a consent order with RBC Capital Markets, LLC, for charging unreasonable commissions on equity transactions between May 2020 and May 2025. RBC will pay approximately $3.4 million nationwide for overcharging on nearly 90,000 transactions.