The Pennsylvania Securities Commission
lodged a civil complaint against TD Ameritrade
over sales of the Reserve Yield Plus Fund, Dow Jones reports
Regulators accused the firm of committing fraud. According to the June 17 complaint, TD Ameritrade and Amerivest Investment Management repeatedly told investors that the fund was a money-market fund
instead of a cash-enhanced mutual fund.
A TD spokeswoman told the news service that the firm is
"cooperating with any investigation or request."
Armie Margaret Lee
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