We (the Financial Conduct Authority – FCA) have published this statement today in order to
warn investors against dealing with unauthorised firms.

This statement is to advise members of the public that an organisation identifying itself to UK
citizens as:

Charles Schwab (Clone of FCA authorised firm)

D-65451 Kelsterbach

is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a
regulated activity in the UK. Regulated activities include, amongst other things, advising on
investments and dealing and arranging deals in investments ('investments' include stocks and
shares). We believe that the organisation may be targeting UK customers.

The following FCA authorised firm has no association whatsoever with the
organisation discussed above identifying itself as Charles Schwab:

Charles Schwab UK Limited (FCA Registration: 225116, Companies House No:
04709153)

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What does this mean for you?

If you are an investor, you should be aware that the Financial Ombudsman Service and the
Financial Services Compensation Scheme are not available if you deal with an
unauthorised company or individual.

How can you check whether a firm is authorised?

To find out whether a company or individual is authorised, go to the FCA Register Check
Service at http://www.fsa.gov.uk/register/home.do.

Date: 11/03/2011 (Updated 15/04/2013)

Note: For an up-to-date list of unauthorised firms issued, please
visit: http://www.fca.org.uk/firms/being-regulated/enforcement/alerts/unauthorised-firms

For more details about the tactics that are commonly adopted by unauthorised firms targeting
UK investors see the “Scams and swindles” and “Protect yourself” pages available at:

http://www.fca.org.uk/consumers/scams-and-swindles