In what appears to be the first enforcement case in recent years involving the Municipal Securities Rulemaking Board's controversial Rule G-23, the Financial Industry Regulatory Authority has imposed a $10,000 fine on the former A. G. Edwards & Sons Inc. in St. Louis for failing to disclose to customers who purchased muni bonds from four deals it underwrote that it had been the financial adviser for the deals.

A.G. Edwards was acquired by Wachovia NA last year.

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