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Alleged LPL customer Daniel Peters is seeking a class action suit, accusing the firm of pocketing most of the interest generated in cash sweep accounts.
The outage began early Friday morning with a software update from the cybersecurity provider Crowdstrike as the likely culprit. Schwab posted on its website a message warning users of potential issues.
According to the brokerage regulator, Laura Casey purchased securities in clients’ brokerage accounts when she could have avoided sales charges by using advisory accounts.