Illinois Investors To Receive Nearly $950,000 In Brokerage Settlement

SPRINGFIELD — Illinois Secretary of State Alexi Giannoulias announced nearly $950,000 will be returned to Illinois investors as part of a $19 million multi state settlement involving Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade after regulators said the firms charged unreasonable commissions on small dollar stock trades over a five year period. The settlement requires the firms to return at least $948,551 to Illinois investors, stop the disputed fee practices, and pay $175,000 in fines to the state, with affected investors to be notified by mail and payments issued on a rolling basis this spring and summer.