TD Ameritrade has agreed to distribute approximately $10 million to customers who continue to hold shares of the Reserve Yield Plus Fund, a mutual fund which famously "broke the buck" on the net value of its assets in September 2008.
The $10 million is part of a settlement announced Thursday with the Securities and Exchange Commission, which charged TD Ameritrade with "failing to reasonably supervise its registered representatives" when the Reserve Yield Plus Fund saw the value of its shares fall below $1 in the midst of the credit crisis erupting at the time.
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