News Flash- A.G. Edwards Sees Impact Of Directed-Brokerage Ban
October 25, 2004
A.G. Edwards indicated in an SEC filing that it expects its revenue to decline as a result of the ban on directed brokerage by mutual fund companies. The firm did not disclose, however, how much of a decline it expects, although it did say that in combination with other regulations, the changes could have "significant and adverse" effects.
The ban took effect on Oct. 6, although firms have until Dec. 13 to fully comply.