I’m confused—how is what happened in the Oval Office today not considered insider trading?
Trump openly bragged about making Charles Schwab $2 billion richer, while Chuck stood there taking it all in. If that’s not a red flag for market manipulation or misuse of material nonpublic information, then what is?
Is there still a functioning compliance department at Schwab?
Quarterly layoffs don't count. Seriously. RIF or adjustment is the euphemism. They only call the WARN layoffs layoffs.
Yes it is a lie.
Of course Schwab has a compliance department!! Oddly enough it was impacted by layoffs today, which is weird b/c Rickie recently said there were be no planned layoffs or reorgs.
I must have misheard or misunderstood- he prob meant for that day - no more layoffs or reorgs planned til the end of day. The one thing I know about Schwab is that trust is EVERYTHING!
This was just a last minute necessary move in order for leadership to hire new friends and be able to pay them fairly which is the right thing to do for clients obviously.
So many cry babies. Sounds like must never worked at or were let go from Schwab. I can see why. An infantile perspective of politics, corporations, and investing. Try coping a little harder.
What does a compliance department do?
Not sure if they actually have a compliance department. I worked there a while back & IIRC compliance was absorbed by the risk bc they weren’t very effective. Around that time Schwab was fined close to $200 million by the SEC for misleading clients about hidden costs in SIP. So they might have one in name but mostly just for optics, not for the actual function.
Some dense folks here....
If Trump told him he was going to pause, and Chuck traded on that, yeah that would be a concern.
Chuck is a billionaire, he ain't going out and buying 0 dte options like that....
The Don was 'likely' referring to change in CO's mkt cap or something...
Oh I'm not agreeing with you - vote down below snowflakes!
F**k Chuck and his whole cagey company. Getting fired for refusing to conform and not signing their shady background checks was the best thing that ever happened to me.
Either none of you actually work for schwab, are not licensed or have not ever used your license - because otherwise you'd know when the market goes up, everyone holding positions "gets richer". Its not income, its wealth. No insider trading required.
Its fine to not agree with Chucks politics and if you worked at Schwab, you'd know that.
OHHHH the double standards that have always existed in the SCHWAMILY - do as I say not as I do......
AML Department: Reminder that if this activity happened in Chuck's Schwab account you are REQUIRED to submit a SAR.
In the Golden Age of USA, laws are for immigrants and wage slaves, not maga white guys.
What's a little extra cash between bros?
The fact that “Chuck” went to the Oval Office today is a disgrace. I’m ashamed, devastated & disgusted. They preach to us that ethics, morals, inclusivity are sooo important but he went there to bow down to this criminal and to slap his employees and clients in the face.
As someone who’s reported up to the Chief Risk Officer for the past 5 years, I can tell you he’s extremely passionate about employees following the rules.
Though to be fair, that passion seems reserved for RTO policies and badge swipes
Apparently, whether Chuck is obeying federal securities laws is a far lower priority.