Charles Schwab, U.K., Limited ("Schwab UK") is authorised and regulated by the Financial Services Authority ("FSA"), the U.K.'s financial services regulator of 25 North Colonnade, Canary Wharf, London E14 5HS.
Head office: 10 King William Street, London EC4N 7TW.
Registered in England and Wales: No. 4709153.
Also, Schwab UK is designated under U.S. regulations as a foreign branch office of. Charles Schwab & Co., Inc. ("Schwab").
Schwab is not authorised to carry on investment business in the U.K., but is regulated under U.S. securities law, is registered with the Securities Exchange Commission ("SEC") as a broker-dealer, and is a member of the Financial Industry Regulatory Authority (“FINRA”). Head office: 211 Main Street, San Francisco, CA 94105, USA.
What does this mean to you when you open an account?
In establishing a US$ denominated brokerage account Schwab UK will introduce you to Schwab. The account will be held and operated in the U.S.A. by Schwab. In addition, certain services may be performed for you by Schwab UK staff on behalf of Schwab.
This means that all or most of the protections provided by the U.K. regulatory system do not apply, but U.S. securities protections do. Although there is no coverage by the U.K. Financial Services Compensation Scheme, there is coverage under the U.S. SIPC scheme (Securities Investor Protection Corporation). CS&Co is a member of SIPC. Explanatory brochure available upon request or at www.sipc.org.
CSUK treats all clients as “Retail Clients” except those clients who request and are eligible to be treated as “Professional Clients" on an elective opted-up basis.
About our Products and Services
Schwab UK does not make personalised investment recommendations. The information contained in our promotional materials and on the website is provided solely to enable you to make your own investment decisions and should not be treated as a solicitation or recommendation to buy, sell, or otherwise deal with any particular investment.
Our products and services are designed for U.K. and Swiss residents.
The minimum opening account balance is U.S. $10,000. For more details on our products and services (including information on account charges, commissions, order handling and execution venues), please go to the "Open an Account" page and refer to the Schwab One Account Agreement and the Charles Schwab Pricing Guide for Individual Investors.
You can place trading orders with Schwab on the secure website or by telephone on 00800 0826 5001 (if calling from the UK) or 0800 56-3821 (if calling from Switzerland). Please refer to the Charles Schwab Pricing Guide for Individual Investors for details of the difference in transaction costs between these two channels.
Offshore funds licensed in the U.K. are available only to U.K. residents that are non-U.S. persons and are not available to Swiss residents. The U.S. registered mutual funds in Charles Schwab's Mutual Fund Marketplace are available only to investors with an U.S. residential address.
You may communicate with us in English. All documents and other information you may receive from Schwab or Schwab UK will be in English.
General Warnings about Investments & Risks Relevant to a US$ Brokerage Account
The price and value of investments and their income fluctuates: you may lose the amount you invested. Remember that how an investment performed in the past is not necessarily a guide to how it will perform in the future.
Accounts are denominated in U.S. Dollars therefore changes in the rates of exchange between currencies may cause your investments to go down or up. This may have an adverse effect on the value, price or income of investments.
Where an investment is described as likely to yield income, or as being suitable for an investor who wants an income from his/her investments, you should bear in mind that income from investments may fluctuate and part of the capital may be used to pay that income.
There is an extra risk of losing money when shares are bought in some smaller companies including "penny" shares (shares with prices under $1.00). There is often a signfiicant difference between the buying and the selling prices of those shares. If they have to be sold immediately, you may get back must less than you paid for them. The price may change quickly and it may go down as well as up.
The rules on taxation can change. The value to you of any tax benefits will depend on your tax position. You should consult a tax adviser in order to understand the impact of your investment decisions on your tax position.
Investment types and/or services mentioned in our promotional materials and website may not be suitable for all investors. If you need advice, you should consult a financial adviser.
Conflicts of Interest
Schwab and Schwab UK are committed to the highest standards of ethical conduct and follow The Schwab Corporation’s Code of Business Conduct and Ethics to avoid and manage conflicts of interest.
Handling of Personal Information
Schwab UK and Schwab take handling your personal information very seriously. We do not sell your personal information to anyone, and we take steps to maintain the security of your personal information at all times - both when it is being processed in the U.K. and when it is being processed outside the European Economic Area, in the U.S.A.
For full details about how we handle personal data and how personal information is used by Schwab US for the marketing of products and services, please refer to the "A Commitment to Your Privacy" leaflet, which can be found in the section of this website.
Complaint Handling and Redress
If you have a complaint about Charles Schwab, U.K. Limited please contact:
The Compliance Officer,
Charles Schwab, U.K. Limited,
10 King William Street,
London EC4N 7TW.
If you have a complaint about Charles Schwab & Co., Inc. please contact:
Client Advocacy Team,
Charles Schwab & Co. Inc.,
211 Main Street,
San Francisco, CA 94105, USA.
For full details about our complaint handling procedures, please refer to the Complaint Handling Procedure and also the section "Arbitration" of the Schwab One Account Agreement.
Additional Information for Swiss residents
We can only offer or distribute units or shares of unit trusts, funds or investment companies which qualify as "foreign investment funds" under Swiss Law, and which can be registered with the Swiss Federal Banking Commission, unless the offer or distribution is exclusively addressed to Swiss institutional investors without any public offering.
The Information on this website
The content of this website is our property or that of our licensors. Please view our Terms of Use.
If you have any questions, please do not hesitate to contact Schwab UK on 0800 917-1039 (if calling from the U.K.) or 0800 56-3821 (if calling from Switzerland).
