TD Ameritrade Settles Multistate Brokerage Antitrust Probe

Law360, New York (July 6, 2012, 3:54 PM EDT) -- TD Ameritrade said Friday it has reached a settlement agreement with attorneys general from Connecticut, Iowa and Missouri in an investigation into potential violations of antitrust law in the retail securities brokerage industry.

The investigation focuses on possibly collusive conduct by several retail securities brokers and firms that assist brokers in executing their orders on an exchange, which may have hindered competition in the retail brokerage industry.

Connecticut Attorney General George Jepsen said in a statement that the company agreed to cooperate with the inquiry and...
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