The Financial Industry Regulatory Authority censured and fined Edward D. Jones & Co. $900,000 - the largest fine of its kind - for failing to deliver official statements to its customers in a timely manner, as well as for violating supervisory and record-keeping rules of the Municipal Securities Rulemaking Board.

FINRA officials said the enforcement action, which was announced Thursday, is the largest ever against an individual firm tied primarily to violations of the MSRB's Rule G-32 on new-issue disclosures.

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