Dallas, Texas 05/16/2014 (FINANCIALSTRENDS) – Charles Schwab Corp (NYSE:SCHW), which is 1 of the leading banking & broking firms in the US has now decided to deal with the FINRA arbitration claim. The company will now have to prepare against FINRA’s arbitration claims that had been filed by the Stoltmann Law Offices a while ago. Stoltmann has filed these claims against SCHW because of the Perry Sawano Ponzi Scheme’s Losses. There had been numerous issues with is, in terms of the services provided by this firm to all of the investors.
As per the reports, Perry Sawano is an investment advisor for Charles Schwab Corp (NYSE:SCHW). The claims state that it is the company’s responsibility & the duty, to safeguard all customer assets of the investment advisors such as Perry Sawano. Despite being aware of all this, SCHW has been unable to fulfill its duties in a complete & honest manner. Charles Schwab was not successful in managing manage all activities that were connected with disbursement of customer assets that had been managed by non-employee investment advisors, but were carried by the company.
Settling the matter
As per the claims that have been leveled against Charles Schwab Corp (NYSE:SCHW), the Ponzi schemes can become successful only when any banking institutions & the brokering institution are fully aware about their duties & are committed towards fulfilling them with sufficient leniency. SCHW also did this & thus Perry Sawano’s Ponzi scheme became successful. After having gone through all these details, the Stoltmann Law Office stated that SCHW is now willing to support all people who have suffered in these Ponzi schemes. SCHW is a savings & loan holding company. It engages, via its subsidiaries, in the securities brokerage, banking as well as the related financial services and provides financial services to various individuals as well as institutional clients.