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Stock Market & Financial Investment News

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December 14, 2012
08:46 EDTSCHWCharles Schwab reports November activity highlights
Company highlights for the month of November include: Net new assets brought to the company by new and existing clients in November 2012 totaled $16.2B, including a $5.4B inflow related to a mutual fund clearing services client and a $0.9B outflow related to a planned transfer from Corporate Brokerage Services. Total client assets were a record $1.92 trillion as of month-end November, up 15% from November 2011 and up 1% compared to October 2012. Client daily average trades were 431.8 thousand in November 2012, flat compared to November 2011 and down 2% compared to October 2012. November 2012 trading activity included a 6% sequential increase in daily average revenue trades.
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July 23, 2014
07:45 EDTSCHWSEC to approve money fund rules with exemptions for discount brokers, WSJ says
New money-market mutual fund rules that are expected to be approved at a Securities and Exchange Commission meeting on Wednesday will exempt discount brokers like Charles Schwab (SCHW) from some provisions, reported The Wall Street Journal. Under the SEC's planned rules, "prime" money funds that are held by corporations and institutional investors will have to abandon a fixed $1-a-share price and float in value like other mutual funds, according to the report, citing people familiar with the matter. Analysts said Schwab and other large money-fund sponsors, Vanguard and Fidelity, would do well under the plan, according to the report. Blackstone (BX) also offers money-market mutual funds. Reference Link

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