July 2 (Reuters) - Charles Schwab Corp will pay a $2.8 million civil fine to settle U.S. Securities and Exchange Commission charges it failed to file suspicious activity reports on questionable transactions conducted by independent investment advisers.
The fine was disclosed in papers filed on Monday with the federal court in San Francisco, where Schwab is based.
Schwab terminated the advisers in question from its platform after determining that their activity violated internal policies and posed a risk to the company or customers, the papers said.
Reporting by Jonathan Stempel in New York Editing by Susan Thomas
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