July 12, 2014 7:56 PM ET

Capital Markets

Company Overview of Charles Schwab & Co., Inc.

Company Overview

Charles Schwab & Co., Inc. is an investment banking and securities brokerage firm. The firm's services include investment advisory and trading, equity research, and online financial services. It also provides advisory services on estate planning, life insurance, and annuities. Charles Schwab & Co., Inc. was founded in 1971 and is based in San Francisco, California. Charles Schwab & Co., Inc. operates as a subsidiary of Schwab Holdings, Inc.

211 Main Street

San Francisco, CA 94105

United States

Founded in 1971

Phone:

415-627-7000

Fax:

415-627-8538

Key Executives for Charles Schwab & Co., Inc.

Compensation as of Fiscal Year 2014.

Charles Schwab & Co., Inc. Key Developments

Azzad Wise Capital Fund Now on Schwab's Mutual Fund OneSource(R) Platform

The Azzad Wise Capital Fund is now available to investors through the Mutual Fund OneSource(R) program offered by Charles Schwab and Co., Inc. The Fund invests in sukuk, or asset-backed Islamic bonds, as well as deposits and notes from Islamic banks that comply with specific socially responsible and halal financial guidelines.

Financial Industry Regulatory Authority, Inc. Hearing Panel Dismisses Two of Three Causes of Action in Complaint Against Charles Schwab & Company

The Financial Industry Regulatory Authority (FINRA) announced that a FINRA hearing panel has dismissed two of three causes in a February 2012 complaint against Charles Schwab & Company. The panel concluded that the amended language used in Schwab's customer agreements to prohibit participation in judicial class actions does violate FINRA rules, but that FINRA may not enforce those rules because they are in conflict with the Federal Arbitration Act (FAA). In the third cause of action, the panel found that Schwab violated FINRA rules by attempting to limit the powers of FINRA arbitrators to consolidate individual claims in arbitration. The panel further concluded that the FAA does not bar enforcement of FINRA's rules regarding the powers of arbitrators, because the FAA does not dictate how an arbitration forum should be governed and operated, or prohibit the consolidation of individual claims. The panel ordered Schwab to take corrective action, including removing violative language, and imposed a fine of $500,000. In its complaint, FINRA's Enforcement Department had charged Schwab with violating FINRA rules concerning language or conditions that firms may place in customer agreements when Schwab amended its customer account agreement to include a provision requiring customers to waive their rights to bring or participate in class actions against the firm. The agreement also included a provision requiring customers to agree that arbitrators in arbitration proceedings would not have the authority to consolidate more than one party's claims. Unless the hearing panel's decision is appealed to FINRA's National Adjudicatory Council (NAC) or is called for review by the NAC, the hearing panel's decision becomes final after 45 days.

Charles Schwab & Co., Inc. Launches Brokerage and Schwab Bank Mobile Deposit for iPad(R)

Charles Schwab & Co., Inc. announced mobile deposit capabilities for iPad users, enabling Schwab brokerage and Schwab Bank clients to deposit checks remotely by taking a picture of a check with their iPad camera. Charles Schwab launched its first native app for iPad nearly a year ago, and is one of the few financial services firms to provide its clients the convenience of mobile deposit capabilities and integrated banking and brokerage mobile services. Another new feature announced is extended-hours trading on Schwab mobile apps. Clients can now place orders for eligible stocks and ETFs during pre-market and after hours trading sessions using their mobile devices. Schwab clients will also be able to view their Schwab Global Account and OptionsXpress balances on mobile devices. In addition to these new features, the company's clients can transfer balances between Schwab Bank and Schwab brokerage accounts, place trades in brokerage accounts and pay bills using Schwab Bank Bill Pay(TM) on their mobile devices. Clients can view balances and account activity for Schwab Bank and brokerage accounts, Schwab 529 College Savings Plans, and Schwab-administered 401(k) and stock option plans. Schwab mobile apps allow clients to tap into market information with real-time access to quotes, charts and watch lists, providing convenient access to information they need to make informed, real-time decisions about their finances. Schwab Mobile Deposit service is subject to certain eligibility requirements, limitations and other conditions. Enrollment is not guaranteed and standard hold policies apply.

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