Montana investors owed millions after settlement with brokerage firms

Montana investigators owed millions after settlement with brokerage firms

The Montana state auditor joined several other state regulatory agencies in investigating five investment firms suspected of overcharging on their commissions for customers making small transactions.

Montana investors owed millions after settlement with brokerage firms

The Montana state auditor joined several other state regulatory agencies in investigating five investment firms suspected of overcharging on their commissions for customers making small transactions.

State Auditor James Brown Announces Multi-State Settlements Over Excessive Broker Commissions

Montana Commissioner of Securities and Insurance James Brown announced Tuesday a series of national settlements with five major broker-dealer firms over allegations they charged excessive commissions on small retail equity transactions, in violation of state securities laws. The firms—Edward D. Jones & Co., L.P. (Edward Jones), LPL Financial LLC, RBC Capital Markets, LLC, Stifel, Nicolaus & Source