Edward Jones—Overcharging Muni Bond Retail Customers Allegations

Edward Jones Allegedly Overcharged Retail Customers Regarding New Municipal Bonds Sales

Edward Jones, based in St. Louis, allegedly overcharged retail customers while underwriting the sales of municipal bonds, according to recent Documents from the SEC.

The SEC goes on to note that this is its first case against an underwriter for alleged pricing-related fraud in the primary market for municipal securities.

In addition, Edward Jones has also been charged with separate alleged misconduct related to supervisory failures in its supervision of certain secondary market municipal bond trades, according to the SEC.

Edward Jones and Its Former Municipal Underwriting Desk Chair Agreed to Settle Charges that They Allegedly Overcharged Customers

Edward Jones was recently the subject of an SEC announcement that the former head of its municipal underwriting desk have agreed to settle charges that they overcharged customers in new municipal bonds sales, according to the SEC.

The SEC’s investigation revealed that rather than offering bonds to customers at the initial offering price, Edward Jones and Stina R. Wishman allegedly took new bonds into Edward Jones’ own arsenal and offered them to customers at higher prices.

Customers of Edward Jones allegedly paid at least $4.6 million more than they should have for new bonds, according to SEC Documents.

The Peiffer Rosca Wolf Investor Rights Lawyers Assisting Investors

The Peiffer Rosca Wolf investor rights lawyers often represent investors who lose money as a result of overpricing customers for municipal bonds. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of misconduct regarding the sale of municipal bonds may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.