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Charles Schwab Corp. to pay up to $200 million in federal regulatory charges, following SEC robo-advice probe; may be tied to discrepancies between how it collected revenues internally and how advertising implied no advisory fee.

The $7.4 trillion in administered assets Westlake, Texas broker-dealer came late to the robo business, but quickly dominated. That move fast, break things blitz may now produce a hangover.

Saturday, July 3, 2021 – 12:23 AM by Oisin Breen
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Peter Crawford signed Schwab’s latest 8-K filing, which states that 'Schwab’s second quarter 2021 financial results will include a liability and related non-deductible charge of $200 million.'

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January 6, 2022 – 10:33 PM

Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder

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December 27, 2021 – 9:58 PM

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 – 5:39 PM

Charles Schwab prunes another 200 or so staff but assures Wall Street analysts the Jenga piece of TD Ameritrade RIA services is still part of the puzzle post-merger

The Westlake, Tex., broker deemed John Tovar 'best talent,' hence a keeper, and ex-TD staffers affirm Schwab's good instincts.

February 11, 2021 – 12:08 AM

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