To: Zardoz who wrote (27468 ) 2/1/1999 7:09:00 PM From: long-gone Read Replies (1) | Respond to of 116764
<<Why does this thread HARP so loud on interent stocks and they value, and seem to think that the GOLD stocks are undervalued? >> It ain't just us.... Wednesday January 27, 10:02 pm Eastern Time Company Press Release SOURCE: Charles Schwab & Co., Inc. Schwab Applauds SEC Chairman's Statement Regarding Online Trading SAN FRANCISCO, Jan. 27 /PRNewswire/ -- Charles Schwab Corporation Chairman Charles Schwab said today he concurs with comments made Wednesday by SEC Chairman Arthur Levitt concerning on-line trading. ''Chairman Levitt is advocating a responsible approach to investing that we at Schwab have recommended for many years,'' said Mr. Schwab. ''Whether you are investing via the Internet, over the telephone or in-person, you need to understand your choices and risks before acting. ''As the online investing leader, we are fully committed to Web trading technology and are fully behind the freedom of access Web trading represents,'' Mr. Schwab continued. ''We are also concerned about protecting our customers from certain risks inherent in volatile markets, and have already taken steps to help them continue to make investment decisions with confidence.'' Mr. Schwab outlined the firm's actions, which were recently communicated to Schwab customers via a series of consumer education efforts: * Education. The firm has published a special guide to trading in fast markets that addresses many of the concerns raised by Chairman Levitt. The guide (free to Schwab customers) helps define fast market conditions and offers suggestions on trading which include using caution when changing or canceling orders, and using limit instead of market orders to help ensure investors will not pay a higher purchase price or receive a lower sale price than they expect. * Personal Assistance. Schwab is re-emphasizing the availability of employees in its 290 branches and its national calling center phone representatives to help customers understand the opportunities and responsibilities associated with investing, including on the Web. Complimentary branch appointments and educational materials available from telephone representatives at 800-435-4000 are designed to help Schwab customers fully understand their choices. * Web Access. The Charles Schwab Web Site (www.schwab.com) is at times limiting access to certain highly volatile IPOs before those stocks begin trading and is asking customers to speak with a Schwab representative to place orders for these stocks. As Chairman Levitt suggested, Schwab representatives are explaining to customers the risks of using market orders and the benefits of using limit orders for these stocks. Schwab will apply its standard Web or TeleBroker commission discounts for web orders that require telephone assistance. * Margin Requirements. In response to the continued volatility of some securities, Schwab has raised its margin maintenance requirements for selected securities from 35% to either 50% or 70%. Mr. Schwab said this step was taken to help ensure that, as Chairman Levitt suggested, investors not over-extend themselves. Charles Schwab & Co., Inc. serves over 5.5 million active investor accounts with $491 billion in client assets, through a multi-channel offering of the Internet, 290 branch offices, automated speech recognition and touch-tone telephone brokerage services, and access to brokers day or night, 7 days a week. Schwab is a pioneer in developing innovative tools and investment solutions for a growing number of online investors. Member SIPC/NYSE. SOURCE: Charles Schwab & Co., Inc.biz.yahoo.com