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Stock Market & Financial Investment News

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March 14, 2014
08:48 EDTSCHWCharles Schwab reports February net new assets $10.9B
Charles Schwab released its Monthly Market Activity Report and said company highlights for the month of February include net new assets brought to the company by new and existing clients in February totaled $10.9B. Reports total client assets were a record $2.29T as of month-end February, up 13% from February FY13 and up 3% compared to January. Reports Clients’ daily average trades were 556.4 thousand in February, up 10% compared to February FY13 and down 5% compared to January. February trading activity included a 3% sequential decrease 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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