Dec. 27, 2022
December 27, 2022 Charles Schwab and Co is running a dual business - split as investment advisor and broker dealer - the broker dealer side of the businsss has lent shares to Citadel Securities - and may have large risk associated with that trade. Charles Schwab is breaking their Fiduciary Duty per the SEC rules and regulations around this. Charles Schwab and Co are lying to clients about the risk they face on the Broker Dealer side of the business. They have not updated their clients on the PFOF risk since they turned off the buy button for GME almost two years ago. I have tried reaching out to their compliance department and sent detailed reports to Charles Schwab - they have done horrible things to my IRA - they sold Game Stop shares and sent a check creating a taxable event without any paperwork or my consent - they did the same with TD Ameritrade Roth Account. Schwab has less than $40bn in cash on the books and holds IOUs worth more than $6-7 trillion. They are lying to clients about the Ape counter party risk with the rise in DRS.