Violation Tracker Individual Record

Company: 
Charles Schwab & Co., Inc.
Current Parent Company: 
Charles Schwab Corp.
Penalty: 
$2,800,000
Year: 
2018
Date: 
July 9, 2018
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Charles Schwab & Co., Inc., a registered broker-dealer, agreed to settle charges that it failed to file Suspicious Activity Reports (SARs) on the suspicious transactions of independent investment advisers that it terminated from using Schwab to custody their client accounts.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.