Prosecutors Contact Schwab on Fund Trading
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From Dow Jones/Associated Press
Prosecutors have contacted a unit of Charles Schwab Corp., seeking information about possible improper trading in the company’s mutual funds.
The inquiries were disclosed in regulatory filings late Tuesday, which said the U.S. attorney’s office in San Francisco and the West Virginia attorney general’s office had contacted Schwab’s U.S. Trust Co. unit about potential market timing and late trading of mutual funds.
In November, Schwab said it and its affiliates were responding to federal and state inquiries into improper fund trading.
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