Finance

Why Charles Schwab became a financial ‘supermarket’

Charles Schwab Corp. is the largest publicly traded brokerage business in the United States with $7.5 trillion of client assets, and is a leading service provider for financial advisors, among the top exchange-traded fund asset managers and one of the biggest banks. “It would be fair to characterize Charles Schwab as a financial services supermarket,” Michael…

Finance

SEC says PIMCO to pay $9 million to settle alleged disclosure and procedure violations

PIMCO headquarters building in Newport Beach, California. Scott Mlyn | CNBC The Securities and Exchange Commission said investment adviser Pacific Investment Management Company will pay $9 million to settle two enforcement actions related to disclosure and procedure violations. “We are pleased to resolve these matters relating to issues which occurred in two funds more than…