 "Photo: Bloomberg")
Charles Schwab Corp will pay $187 million to settle US Securities and Exchange Commission (SEC) charges accusing three investment adviser subsidiaries of failing to disclose less profitable fund allocations and misleading robo-adviser clients, the agency said on Monday.
The SEC, the federal agency that regulates Wall Street, called Schwab's conduct egregious. The SEC has stepped up scrutiny of brokerages' use of robo-advisers and misleading disclosures to investors about returns.
The SEC, the federal agency that regulates Wall Street, called Schwab's conduct egregious. The SEC has stepped up scrutiny of brokerages' use of robo-advisers and misleading disclosures to investors about returns.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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