FINRA hit five broker-dealers with $18 million in sanctions for overcharging clients and charities on mutual funds.

Edward Jones faces the largest penalty: $13.5 million. Stifel was hit with $2.9 million, Janney Montgomery Scott with $1.2 million and AXA Advisors with $600,000. Stephens, a financial services firm based in Little Rock, Ark., was ordered to pay $150,000.

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