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Wed February 26, 2014
N.H. Reaches Largest Settlement In State History For 'Do Not Call List' Violations
New Hampshire regulators and a national investment brokerage firm have reached one of the largest settlements in the history of the national Do Not Call list. Edward Jones and Co. will pay $750,000 dollars after making illegal solicitation calls.
Data from the FTC says that New Hampshire is first in the nation for the percentage of its population registered on the Do Not Call List, and 11th in the country for the number of complaints. Because New Hamphire residents seem so enthusiastic about the list, regulators here have been taking it seriously.
“This is the 4th action we’ve brought, and we have three other investigations underway,” says Adrian LaRochelle, from the New Hampshire Bureau of Securities Regulation.
LaRochelle couldn’t say how many times Edward Jones made illegal calls, but said the number was significant. He says the settlement was the largest in the state’s history.
Edward Jones is an investment broker with 58 branches all across the Granite State. Regulators say it failed to train its agents about telephone solicitation rules and to properly supervise them. Edward Jones agreed to stop the calls and to modify its procedures as part of the settlement agreement.
The bureau said the settlement includes payment of its costs and a contribution to the New Hampshire Investor Education Fund.