Schwab Expands Commitment to Designated Brokerage Business with Plans to Acquire Compliance11, Inc.

Friday, October 28, 2011 11:15 am PDT



Public Company Information:

"Innovation and excellent customer service are what have made us both great companies. We’re looking forward to the opportunity to take both of these to the next level."

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation (NYSE:SCHW) today announced that it has entered into an agreement to acquire Compliance11, Inc., a provider of cloud-based, regulatory compliance software. The acquisition is expected to close in the fourth quarter of 2011, subject to customary closing conditions. Financial terms of the transaction are not being disclosed.

Based in Chicago and founded in 2005, Compliance11, Inc. is a leading provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisors, hedge funds, private equity firms and pension funds. Its highly scalable and customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance and reporting needs, and more efficiently manage employee compliance.

"The range of firms monitoring their employees’ investing and trading activities to ensure compliance with industry regulations is expanding,” stated Jim McCool, executive vice president and head of Institutional Services at Schwab. “A heightened regulatory focus and attention to corporate reputational risk create more reason than ever for firms to seek out efficient solutions to help meet their compliance obligations.”

“This combination of capabilities will put Schwab in a unique position,” added Trish Cox, senior vice president of Schwab Corporate Brokerage Services. “By making Compliance11’s technology available with our own investing, trading and reporting systems we can create a one-of-a-kind solution that brings great advantages to the corporate marketplace. For example, with an integrated platform, employers would be able to streamline the process of monitoring employee trades to comply with regulations, avoiding potential delays and inefficiencies.”

Schwab’s Designated Brokerage Services (DBS) business has provided employee trade monitoring services to employers in regulated industries for more than 15 years and now serves over 650 corporate relationships who monitor over $30 billion in assets across 130,000 employee accounts. DBS provides employee trading data to these companies, which helps them manage their responsibilities, while providing their employees all of the products, services and support Schwab has to offer.

“We are delighted to be joining forces with Schwab,” said Tad Mitchell, Compliance11 president and CEO. “Innovation and excellent customer service are what have made us both great companies. We’re looking forward to the opportunity to take both of these to the next level.”

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.5 million active brokerage accounts, 1.46 million corporate retirement plan participants, 769,000 banking accounts, and $1.58 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at and

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About Compliance11

Compliance11, Inc., is a leading provider of cloud-based compliance automation software for the financial community. Compliance11 products automate employee trading, insider trading surveillance, policy affirmations, employee disclosures, gifts, entertainment, political contributions, marketing review, customer complaints, regulatory inquiries and more. The highly scalable, hosted platform can be operational in days, freeing you to manage risk, not paper. For more information, visit


Charles Schwab
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Rich Fowler, 415-667-1841 (Investors/Analysts)

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