The Singapore office will no longer be licensed to hold accounts and all its client funds would either be transferred to a new broker-dealer or liquidated and returned to clients, a company spokeswoman said in an emailed statement.
SINGAPORE (Sept 5): Discount brokerage company Charles Schwab Corp said on Thursday it will close its Singapore office by the end of this year, about two years after opening it in late 2017.
“Charles Schwab Singapore will cease to provide services and will close its office in Singapore. We will no longer open new accounts for prospective clients,” it said in a statement on its website.
