Schwab Stock Plan Services Expands International Capabilities, Offers Fully Featured Accounts to 18 Additional Countries
18 Ottobre 2023 - 3:00PM
Business Wire
Schwab Stock Plan Services recently expanded availability of
fully featured investment accounts to equity compensation plan
participants in 18 additional countries. With the expansion, Schwab
now offers fully featured accounts for participants in 52
jurisdictions outside the U.S.
Many stock plan providers offer limited investment account
features to international employees due to securities and tax law
intricacies that vary widely from country to country. To implement
the new capabilities, Schwab worked directly with legal and
regulatory experts in each of the added countries to ensure
adherence to applicable country-specific laws, securities
regulations and exemptions.
“Eighty percent of our clients have employees outside the U.S.,
which represents 25 percent of all of the stock plan participants
we serve,” said Amy Reback, Managing Director, Schwab Stock Plan
Services. “That’s why we’re so pleased to be able to increase our
offerings to more participants by expanding access to our financial
professionals, educational resources, and investment services.”
Limited-purpose accounts typically only allow the holding and
sale of equity awards, without the ability to invest in other
securities. As a result, many international employees simply
cash-out their equity compensation when a vesting event occurs.
Fully featured accounts provide access to expanded products and
services, including broader securities trading, options, fixed
income, eligible offshore mutual funds, and a debit card.
“Our clients want employees to view their equity compensation
plan as a wealth builder that can turn them from earners into
owners. Fully featured accounts help with this goal by offering
more comprehensive services that can show the true, long-term value
of equity compensation and how it fits into an overall financial
plan, which helps deepen ties between employees and employers,”
Reback said.
Non-U.S. countries and U.S. territories eligible for fully
featured accounts include:
Argentina Australia Austria* The Bahamas
Belgium Bermuda Brazil British Virgin Islands Cayman Islands Chile
China Colombia Costa Rica
*Newly added
Czech Republic* Denmark* Ecuador Finland*
Germany Greece* Guam Guatemala Hong Kong Iceland* India Indonesia*
Ireland*
Israel Jersey Luxembourg* Malaysia Mexico
Netherlands* Norway* Panama Paraguay* Peru Poland* Portugal* Puerto
Rico
Qatar South Korea* Spain Sweden*
Switzerland Taiwan Thailand Trinidad & Tobago* Turks &
Caicos* United Arab Emirates United Kingdom U.S. Virgin Islands
Uruguay
In addition to offering fully featured accounts for participants
in 52 jurisdictions, Schwab Stock Plan Services continues to offer
equity accounts worldwide, with the exception of OFAC-sanctioned
countries, so employees can manage their equity compensation
regardless of their location through a fully featured or
limited-purpose account.
About Charles Schwab
At Charles Schwab, we believe in the power of investing to help
individuals create a better tomorrow. We have a history of
challenging the status quo in our industry, innovating in ways that
benefit investors and the advisors and employers who serve them,
and championing our clients’ goals with passion and integrity.
More information is available at aboutschwab.com. Follow us on
Twitter, Facebook, YouTube, and LinkedIn.
Disclosures
Workplace Financial Services is a business enterprise which
offers products and services through Schwab Retirement Plan
Services, Inc.; Schwab Stock Plan Services; and Designated
Brokerage Services. Schwab Retirement Plan Services, Inc., provides
recordkeeping and related services with respect to retirement
plans. Schwab Stock Plan Services is a division of Charles Schwab
& Co., Inc. providing equity compensation plan services and
brokerage solutions for corporate clients. Schwab Designated
Brokerage Services (DBS), a division of Charles Schwab & Co.,
Inc., provides technology solutions for corporate clients with
regulatory requirements to monitor employee security transactions.
Schwab Retirement Plan Services, Inc., and Charles Schwab &
Co., Inc. (“Schwab”) (member SIPC, www.sipc.org), are separate but
affiliated entities, and each is a subsidiary of The Charles Schwab
Corporation.
This information is not intended for residents of a particular
country. Not all products, services, or investments are available
in all countries. None of the information provided here is an offer
to sell or a solicitation of an offer to buy securities, products
or service, by any person or entity in any jurisdiction or country
where such distribution or use would be contrary to law or
regulation. Investing in U.S. securities is not without risk.
Investment returns will fluctuate and are subject to market
volatility, so that an investor’s shares, when redeemed or sold,
may be worth more or less than their original cost.
1023-3BZE
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version on businesswire.com: https://www.businesswire.com/news/home/20231018305129/en/
Mike Peterson Charles Schwab 330-908-4334
mike.peterson@schwab.com
Carly Taylor The Neibart Group 973-618-6993
SchwabRPS@neibartgroup.com
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