Law360, New York (November 21, 2011, 5:54 PM ET) -- Ex-Charles Schwab & Co. Inc. Executive Vice President Randall Merk agreed Monday to pay $150,000 to exit the U.S. Securities and Exchange Commission's suit in California alleging he and another Schwab employee misled investors in the company's YieldPlus fund.
According to U.S. District Judge William Alsup's final judgment, which also enjoins Merk from violating the Investment Company Act and the Investment Advisers Act, the penalty will be added to a fund established by SEC v. Charles Schwab Investment Management Inc. et al. for the benefit of...
Ex-Schwab Exec Exits Fraud Suit Over YieldPlus Fund
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