The case brought by 15 investors centres on structured products, complex non-traditional, leveraged ETFs and proprietary ETFs.
A panel of three independent arbitrators has rendered US$3.8m award against Charles Schwab (Schwab), TD Ameritrade and TD Ameritrade Clearing, according to a Finra award released on Tuesday (3 March). TD Ameritrade and TD Ameritrade Clearing have been part of Schwab since 2020. The arbitration case was heard in Jacksonville, Florida after being filed around 28 August 2024. Schwab allegedly substantially concentrated claimants’ accounts in inappropriate holdings, including complex