Key Developments For The Charles Schwab Corporation
The Charles Schwab Corporation (SCHW.O) (Nasdaq)
The Charles Schwab Corporation Declares Regular Quarterly Dividend
The Charles Schwab Corporation announced that it has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable November 27, 2009 to stockholders of record November 13, 2009.
SEC Staff Notify The Charles Schwab Corporation Of Possible Civil Charges Over 2 Fixed-income Mutual Funds-AP
The Associated Press reported that Federal regulators have warned The Charles Schwab Corporation that they could bring civil charges against the discount brokerage over two fixed-income mutual funds. Schwab has been dealing with civil lawsuits and regulatory investigations of the two funds, the Schwab YieldPlus Fund and the Schwab Total Bond Market Fund. The Company said in a regulatory filing that it received a so-called Wells notice from the Securities and Exchange Commission, saying the SEC staff intends to recommend civil charges against several Schwab affiliates for possible securities violations. The notice is not a formal allegation nor a finding of wrongdoing. Schwab said the charges are unwarranted and plans to respond to the notice.
The Charles Schwab Corporation Found Liable In YieldPlus FINRA Arbitration
The Charles Schwab Corporation announced that a Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded damages to the Chang family who invested in the Charles Schwab YieldPlus fund. The panel awarded the Chang claimants 100% of their losses plus what they would have earned had their money been properly invested. The panel also awarded expert witness costs and assessed the entire cost of the arbitration proceeding against The Charles Schwab Corporation.
The Charles Schwab Corporation Declares Regular Quarterly Dividend
The Charles Schwab Corporation announced that its Board of Directors has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable August 28, 2009 to stockholders of record August 14, 2009.
The Charles Schwab Corporation Faces ARS Fraud Charge, TD Ameritrade Holding Corp Settles-Reuters
Reuters reported that New York's attorney general, probing illegal marketing and sales of auction rate securities, intends to charge The Charles Schwab Corporation with civil fraud and has reached a settlement with rival TD Ameritrade Holding Corp, his office said. Schwab denied the allegations as "without merit." TD Ameritrade agreed to return $456 million to investors holding the auction rate securities, or ARS, a market that froze early last year.
