Charles Schwab subsidiaries to pay $187 million to settle SEC charges
By Syndicated ContentJun 13, 2022 | 9:32 AM
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday said it charged three Charles Schwab Corp investment adviser subsidiaries with failing to disclose less profitable fund allocations.
Without admitting or denying the SEC’s charges, the subsidiaries will pay $187 million to settle the charges, the SEC said in its order.
(Reporting by Katanga Johnson in Washington; editing by Jonathan Oatis)
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