The case brought by a group of retired teachers centres on structured products, non-traditional, leveraged ETFs and proprietary ETFs.

An US$3.8m award has been rendered 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, FL after being filed on 28 August 2024.  Schwab have been ordered to pay US$3.8m, including US$3.3m in compensatory damages. The broker allegedly substantially concentrated claimant