TD Ameritrade: Difference between revisions

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These actions led to class-action lawsuits filed by customers and an investigation by the [[wikipedia:U.S._Securities_and_Exchange_Commission|U.S. Securities and Exchange Commission (SEC)]] into the company's marketing practices.

In 2008, TD Ameritrade agreed to reimburse customers for up to 3% of their losses in the Reserve Primary Fund, with a total cap of $50 million. In 2011, the company settled the SEC case and agreed to pay 1.2¢ per share of the Reserve Yield Plus Fund that was held by its customers, or $10 million in total. The Reserve Yield Plus Fund made its final distribution in 2016, with investors receiving 97 to 98 cents per share, in addition to the compensation provided by TD Ameritrade.<ref>https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html ([http://web.archive.org/web/20220610201118/https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html Archived])</ref><ref>https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Charges TD Ameritrade for Failing to Supervise Its Representatives Who Sold Shares of the Reserve Yield Plus Fund |url=https://www.sec.gov/news/press/2011/2011-36.htm |archive-url=https://web.archive.org/web/20110206153406/https://www.sec.gov/news/press/2011/2011-36.htm |archive-date=6 Feb 2011 |access-date=15 Mar 2025 |website=[[SEC]]}}</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Announces $10M Settlement With TD Ameritrade |url=https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |url-status=live |archive-url=https://web.archive.org/web/20250308000930/https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |archive-date=8 Mar 2025 |access-date=15 Mar 2025 |website=[[CBS]]}}</ref><ref>https://www.primary-yieldplus-inliquidation.com/lander ([http://web.archive.org/web/20251212061408/https://www.primary-yieldplus-inliquidation.com/lander Archived])</ref>

In 2008, TD Ameritrade agreed to reimburse customers for up to 3% of their losses in the Reserve Primary Fund, with a total cap of $50 million. In 2011, the company settled the SEC case and agreed to pay 1.2¢ per share of the Reserve Yield Plus Fund that was held by its customers, or $10 million in total. The Reserve Yield Plus Fund made its final distribution in 2016, with investors receiving 97 to 98 cents per share, in addition to the compensation provided by TD Ameritrade.<ref>https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html ([http://web.archive.org/web/20220610201118/https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html Archived])</ref><ref>https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html ([http://web.archive.org/web/20220610201131/https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html Archived])</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Charges TD Ameritrade for Failing to Supervise Its Representatives Who Sold Shares of the Reserve Yield Plus Fund |url=https://www.sec.gov/news/press/2011/2011-36.htm |archive-url=https://web.archive.org/web/20110206153406/https://www.sec.gov/news/press/2011/2011-36.htm |archive-date=6 Feb 2011 |access-date=15 Mar 2025 |website=[[SEC]]}}</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Announces $10M Settlement With TD Ameritrade |url=https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |url-status=live |archive-url=https://web.archive.org/web/20250308000930/https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |archive-date=8 Mar 2025 |access-date=15 Mar 2025 |website=[[CBS]]}}</ref><ref>https://www.primary-yieldplus-inliquidation.com/lander ([http://web.archive.org/web/20251212061408/https://www.primary-yieldplus-inliquidation.com/lander Archived])</ref>

==See also==

@@ Line 28: / Line 28: @@
 These actions led to class-action lawsuits filed by customers and an investigation by the [[wikipedia:U.S._Securities_and_Exchange_Commission|U.S. Securities and Exchange Commission (SEC)]] into the company's marketing practices.
-In 2008, TD Ameritrade agreed to reimburse customers for up to 3% of their losses in the Reserve Primary Fund, with a total cap of $50 million. In 2011, the company settled the SEC case and agreed to pay 1.2¢ per share of the Reserve Yield Plus Fund that was held by its customers, or $10 million in total. The Reserve Yield Plus Fund made its final distribution in 2016, with investors receiving 97 to 98 cents per share, in addition to the compensation provided by TD Ameritrade.<ref>https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html ([http://web.archive.org/web/20220610201118/https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html Archived])</ref><ref>https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Charges TD Ameritrade for Failing to Supervise Its Representatives Who Sold Shares of the Reserve Yield Plus Fund |url=https://www.sec.gov/news/press/2011/2011-36.htm |archive-url=https://web.archive.org/web/20110206153406/https://www.sec.gov/news/press/2011/2011-36.htm |archive-date=6 Feb 2011 |access-date=15 Mar 2025 |website=[[SEC]]}}</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Announces $10M Settlement With TD Ameritrade |url=https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |url-status=live |archive-url=https://web.archive.org/web/20250308000930/https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |archive-date=8 Mar 2025 |access-date=15 Mar 2025 |website=[[CBS]]}}</ref><ref>https://www.primary-yieldplus-inliquidation.com/lander ([http://web.archive.org/web/20251212061408/https://www.primary-yieldplus-inliquidation.com/lander Archived])</ref>
+In 2008, TD Ameritrade agreed to reimburse customers for up to 3% of their losses in the Reserve Primary Fund, with a total cap of $50 million. In 2011, the company settled the SEC case and agreed to pay 1.2¢ per share of the Reserve Yield Plus Fund that was held by its customers, or $10 million in total. The Reserve Yield Plus Fund made its final distribution in 2016, with investors receiving 97 to 98 cents per share, in addition to the compensation provided by TD Ameritrade.<ref>https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html ([http://web.archive.org/web/20220610201118/https://www.chicagotribune.com/news/ct-xpm-2008-11-02-0810310465-story.html Archived])</ref><ref>https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html ([http://web.archive.org/web/20220610201131/https://www.baltimoresun.com/news/bs-xpm-2008-12-16-0812150177-story.html Archived])</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Charges TD Ameritrade for Failing to Supervise Its Representatives Who Sold Shares of the Reserve Yield Plus Fund |url=https://www.sec.gov/news/press/2011/2011-36.htm |archive-url=https://web.archive.org/web/20110206153406/https://www.sec.gov/news/press/2011/2011-36.htm |archive-date=6 Feb 2011 |access-date=15 Mar 2025 |website=[[SEC]]}}</ref><ref>{{Cite web |date=3 Feb 2011 |title=SEC Announces $10M Settlement With TD Ameritrade |url=https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |url-status=live |archive-url=https://web.archive.org/web/20250308000930/https://www.cbsnews.com/news/sec-announces-10m-settlement-with-td-ameritrade/ |archive-date=8 Mar 2025 |access-date=15 Mar 2025 |website=[[CBS]]}}</ref><ref>https://www.primary-yieldplus-inliquidation.com/lander ([http://web.archive.org/web/20251212061408/https://www.primary-yieldplus-inliquidation.com/lander Archived])</ref>
 ==See also==