FINRA has fined St. Louis-based brokerage firm Edward Jones $160,000 for charging excessive markups and markdowns on bond trades. This is yet another in a long line of recent FINRA fines levied against numerous brokerage firms for this type of investment fraud. Brokerage firm charges on bond transactions must be fair and reasonable, and it appears that many brokerage firms have viewed investors’ bond transactions as an opportunity to skim additional money out of investors’ accounts.
