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Schwab takes high-profile stand opposing self-regulatory organization for advisors

Largest custodian opposes FINRA on heavily lobbied issue

Author Elizabeth MacBride January 14, 2011 at 3:09 PM
2 Comments
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Nick Georgis: Schwab has had conversations with SEC staff.

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Rich and Co.

Rich and Co.

June 1, 2011 — 10:08 PM

Nice reporting job. How is it in Schwab’s financial interest to oppose these developments?

Brooke Southall

Brooke Southall

June 2, 2011 — 1:11 AM

More than half of Schwab’s business now relates to its custody of RIA assets. This may give them a strong incentive to oppose an SRO. RIAs generally oppose an SRO.

Brooke


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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally



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