RegActions records a disclosed FCA monetary penalty of £8,963,200 dated 21 Dec 2020 for Charles Schwab UK Limited.
Case facts
| Firm or individual | Charles Schwab UK Limited |
|---|---|
| Regulator | Financial Conduct Authority (FCA) |
| Date | 21 Dec 2020 |
| Penalty | £8,963,200 |
| RegActions breach classification | CLIENT_MONEY |
| Public case ID | 1cbba994-b800-405e-be6a-8e12e7f513f8 |
Case summary
This Final Notice refers to breaches of PRIN 10 and 11, CASS and Section 20 FSMA related to failing to be open and co-operative, client money/assets and failing to operate in accordance with permission in the Wealth Management and Private Banking sector. We imposed a financial penalty.
Official evidence
This page meets the public case-page evidence threshold.
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Scope
This page describes one source-linked monetary record. RegActions excludes non-monetary outcomes and amounts awaiting review from FCA fine totals. The FCA publication remains the authoritative source.