Millennial investors unsure how to protect against losses
By Tom Higgins 23
rd April 2021 8:11 am
Young investors routinely opt for high-risk assets, but a large majority are unsure how to adapt their strategies to protect against losses in the current financial climate.
The newly published research from Charles Schwab UK found that Millennial & Gen Z investors are more likely to hold cryptocurrencies (51%) than equities (25%) and see speculative assets as a good investment.
Charles Schwab UK managing director Richard Flynn said: “Digital platforms and the sheer volume of financial information available today has made it much easier for young investors to trade and cryptocurrencies seem to be the flavour of the month.”
Charles Schwab Hit With $12M Fine Over Inadequate Safeguards Charles Schwab s U.K. business received a fine for not adequately protecting client assets for nearly two years, according to a U.K. regulator.
Charles Schwab received a fine from the U.K.’s Financial Conduct Authority for “failing to adequately protect client assets,” according to an announcement from the authority. The £9 million ($12 million) penalty was assigned to the financial services’ U.K. business for missteps compared to those made by Lehman Brothers.
All the customers affected by Charles Schwab’s breaches were retail clients and the failures in safeguards occurred from August 2017 until April 2019, according to the authority.
FCA fines Charles Schwab £9m for inadequately protecting customer assets eveningexpress.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eveningexpress.co.uk Daily Mail and Mail on Sunday newspapers.
Charles Schwab UK fined £9m for failing to protect client assets
Charles Schwab was also fined by the FCA for making a false statement to the regulator (Getty Images)
The UK’s financial watchdog has fined investment firm Charles Schwab £9m for failing to adequately protect client assets and making a false statement to the regulator.
Schwab’s breaches occurred between August 2017 and April 2019 when it moved client money from the UK arm to a US business.
The Financial Conduct Authority (FCA) today said Charles Schwab UK “failed to arrange adequate protection for its clients’ assets under UK rules”. It fined the company – the British section of the major US investment firm – £8.96m.
Tel: +44 (0)1858 438 427
Register Now
Investment Week helps enlightened investment professionals to grow revenues and manage risk by reading the market more astutely via this industry leading title.
Investment Week offers:-
REAL-TIME NEWS & ANALYSIS: find out what s happening in the market right now and why. Understand key asset classes and opportunities for new business
DISRUPTION: learn how technological developments and regulatory change will shape your decisions
OPINION: incisive, useful and provocative insights from experts