A.G. Edwards Targeted Over Broker's Impropriety

Law360, New York (December 5, 2007, 12:00 AM EST) -- The Commonwealth of Massachusetts is asking A.G. Edwards & Sons Inc. to pay at least $1 million to repay investors after the firm allegedly failed to supervise a former broker who preyed on retirees and lost their money through improper investments.

On Wednesday, the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth filed an administrative complaint against the brokerage firm, claiming A.G. Edwards allowed Howard “Buck” McHugh to victimize retirees from Boston Edison Co. by inducing them to...
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