Business ProfileforThe Charles Schwab Corporation
Additional business information
On July 2, 2018, The Securities & Exchange Commission entered into a Settlement Agreement with Charles Schwab & Company, Inc. Case: 18-cv-3942
The settlement agreement comes from Charles Schwab & Co. violating the Exchange Act by failing to file required Suspicious Activity Reports (SAR).
Schwab terminated 83 independent investment advisors, with at least 47 of them terminated for engaging in suspicious transactions such as; charging clients excessive fees, cherry-picking (selectively choosing), posing as clients for trading purposes, as well as attempting to or engaging in transactions as an unregistered investment advisor during the period of 2012 and 2013.
Charles Schwab agreed to settle by consenting, without admitting nor denying the allegations of the complaint, and will pay the amount of $2.8 million in civil penalties.
At-a-glance
Related Categories
Overview
This company provides services for individuals and institutions that are investing online.
Products & Services
Business Details
- Location of This Business
- 211 Main St Mail Stop PHXPeak Client Advocacy Team, San Francisco, CA 94105-1905
- BBB File Opened:
- 8/1/1975
- Years in Business:
- 51
- Business Started:
- 4/1/1973
- Business Started Locally:
- 4/1/1973
- Type of Entity:
- Corporation
- Number of Employees:
- 19500
- Alternate Business Name
- Charles Schwab & Company, Inc.
- Business Management
- Mr. Walt Bettinger, President and CEO
- Contact Information
Principal
- Mr. Walt Bettinger, President and CEO
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