Miriam Rozen

Advisor headcount at Edward D. Jones & Co., which has remained relatively flat in recent quarters, fell by a net 36 brokers in the past three months, according to a Securities and Exchange Commission filing on Friday.

The Financial Industry Regulatory Authority proposed on Wednesday to modify its rules governing arbitrator selection when its initial process fails to identify a sufficient number of available panelists as current practices have “proved unpopular,” the industry’s self-regulator said.

The Financial Industry Regulatory Authority proposed on Thursday a new rule to allow brokerage firms to delay transactions or disbursement of funds for up to 10 days when there is a reasonable suspicion of fraud.

Edward Jones & Co., the brokerage long associated with advisors in suburban strip malls, has made another move to modernize its 100-year-old model with a digital advice service to attract next-generation investors.

The Financial Industry Regulatory Authority (FINRA) has proposed allowing brokerage firms to delay transactions or fund disbursements for up to 10 days when there is reasonable suspicion of fraud. The measure would apply to all customer accounts, regardless of age or capacity and requires approval from the U.S. Securities and Exchange Commission. FINRA also proposed extending the maximum hold period for transactions involving customers 65 and older or those with impairments from 55 to 145 business days. The regulator cited increasingly sophisticated fraud schemes, including those powered by AI, as a growing threat to investors.

The Financial Industry Regulatory Authority (FINRA) has proposed changes to its arbitrator-selection rules for cases where the initial selection process fails to produce enough available panelists. Instead of requiring parties to accept randomly selected substitutes, the proposal would allow both sides to choose arbitrators from an entirely new list, giving them greater input over panel composition. FINRA said the existing “extended list appointment” process has been unpopular because parties have limited ability to challenge replacement arbitrators. The proposal would also formalize a $300 honorarium for every four hours of work by substitute arbitrators reviewing case records and hearing materials.

Will Trout, a consultant with Datos Insights, offered his views of Edward Jones' launch of a mostly automated investment platform.

Paul Atkins, chairman of the US Securities and Exchange Commission.

A former Edward D. Jones & Co. broker and the St. Louis, Missouri-based brokerage agreed to dismiss a reverse discrimination class action suit, according to court filings.

U.S. Securities and Exchange Commission Chair Paul Atkins has directed agency staff to work with the Financial Industry Regulatory Authority on developing an exam that would allow retail investors to qualify as accredited investors based on financial knowledge and sophistication. The proposal could expand access to private-market securities beyond current income and net-worth requirements, which begin at $200,000 in annual income or $1 million in net worth excluding a primary residence. Industry groups support adding professional experience and an investor test to the eligibility criteria. Investor advocates, however, warn that broader access could expose more people to risky private investments.