SEC Charges Schwab Entities With Making Misleading Statements

Litigation Release

The SEC today charged Charles Schwab Investment Management and Charles Schwab & Co., Inc. with making misleading statements regarding the Schwab YieldPlus Fund and failing to establish, maintain and enforce policies and procedures to prevent the misuse of material, nonpublic information, alleging and, in its related order, finding that each entity willfully violated anti-fraud provisions of the 33 Act, Sections 17(a)(2) and (3).

Document Number

Litigation Release No. 21806

Date

January 11, 2011

Cross References (links may require a Cabinet subscription)

Sections 17(a)(2) and (3) of the '33 Act