Financial Services
The Charles Schwab CorporationFind BBB Accredited Businesses in Financial Services.
About
Important information
- Government Actions:SEC Commission v. Charles Schwab & Co., Inc.
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.
About This Business
This company provides services for individuals and institutions that are investing online.
Products and Services
Business Details
- BBB File Opened:
- 8/1/1975
- Business Started:
- 4/1/1973
- Business Started Locally:
- 4/1/1973
- Type of Entity:
- Corporation
- Alternate Names:
- Charles Schwab & Company, Inc.
- Business Management:
- Mr. Walt Bettinger, President and CEO
- Number of Employees:
- 19500
Additional Contact Information
- Principal Contacts
- Mr. Walt Bettinger, President and CEO
Additional Information
- Business Categories
- Financial Services
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