Schwab To Pay $187M In SEC Deal Over Robo-Adviser Conflict

By Al Barbarino ( June 13, 2022, 1:38 PM EDT) -- Three Charles Schwab Corp. subsidiaries agreed Monday to pay $187 million to resolve claims from the U.S. Securities and Exchange Commission that three of its robo-adviser subsidiaries allocated client funds to make money for Schwab's affiliated bank despite being less profitable for clients and making "false and misleading" statements about the conflict. ...

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