UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 11, 2011
The Charles Schwab Corporation
(Exact name of registrant as specified in its charter)
Commission File Number: 1-9700
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Delaware
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94-3025021
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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211 Main Street, San Francisco, CA 94105
(Address of principal executive offices, including zip code)
(415) 667-7000
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On January 11, 2011, The Charles Schwab Corporation (the Company) announced that two of its subsidiaries have entered into settlement agreements with the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and Illinois regulators related to previously disclosed investigations of the Company's Schwab YieldPlus Fund(R). The Company has agreed to pay a total of $119 million to the SEC, FINRA, and Illinois regulators and expects to include an after tax charge of $97 million in its fourth quarter financial results relating to these settlements. Amounts payable to the SEC under the settlement are subject to the approval of the U.S. District Court for the Northern District of California.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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The Charles Schwab Corporation
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Date: January 14, 2011
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By:
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/s/ Joseph R. Martinetto
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Joseph R. Martinetto
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Executive Vice President and Chief Financial Officer
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