May 27, 2016 4:16 PM ET

Capital Markets

Company Overview of Scottrade, Inc.

Company Overview

Scottrade, Inc. provides investment accounts and brokerage services to investors. The company offers investment products, such as retirement and individual retirement accounts, stocks, options, margins, mutual funds, exchange-traded funds, bonds, certificates of deposit products, treasuries, education savings accounts, flexible dividend reinvestment programs, international investing opportunities, and other account types (brokerage, banking, custodial/guardian, specialty, and business accounts). It also provides investment advisory services; online and mobile trading options for self-directed trading and banking operations; and market research tools. Scottrade, Inc. was formerly known as Sco...

12800 Corporate Hill Drive

5th Floor

Saint Louis, MO 63131-0759

United States

Founded in 1980

Phone:

314-965-1555

Fax:

314-543-6222

Key Executives for Scottrade, Inc.

President
Age: 53
Founder and Chief Executive Officer of Scottrade Financial Services, Inc.
Executive Director of Operations
President of Scottrade Investment Management
President of Scottrade Bank Equipment Finance
Compensation as of Fiscal Year 2015.

Scottrade, Inc. Key Developments

Peter deSilva to Join Scottrade, Inc. as President, Effective February 1, 2016

Peter deSilva joins Scottrade, Inc. as President, effective February 1. In this role, deSilva will lead brokerage strategy, brokerage product, and client services. With nearly three decades of experience in financial services, deSilva brings to the table a depth of business development experience and a powerful track record of transformational leadership. deSilva has previously served as a senior executive at Fidelity Investments and, most recently, as President and COO of UMB Financial Corporation.

FINRA Fines Scottrade, Inc. a $2.6 Million for Significant Failures in Required Electronic Records and Email Retention

The Financial Industry Regulatory Authority (FINRA) announced that it fined Scottrade, Inc. a $2.6 million for failing to retain a large number of securities-related electronic records in the required format, and for failing to retain certain categories of outgoing emails. Scottrade also did not have a reasonable supervisory system in place to achieve compliance with certain Securities and Exchange Commission (SEC) and FINRA books and records rules, which contributed to its record-retention failures. FINRA found that from January 2011 to January 2014, Scottrade did not have centralized document-retention processes or procedures for all firm departments to follow. Further, no one at the firm was charged with responsibility for ensuring a consistent document-retention process, fully compliant with the record-retention rules, including the requirement that all records be retained in WORM format. Personnel in different departments of the firm saved certain documents to a restricted shared drive, which was not WORM-compliant. As a result, Scottrade failed to preserve a large number of key securities business electronic records in the required format. Over a related time frame, FINRA found that Scottrade also failed to copy more than 168 million outgoing emails to the firm’s WORM storage device, resulting in the deletion of those emails. These emails were generated automatically by the firm’s internal systems or by third-party vendors acting on Scottrade’s behalf, and included items such as margin call notices, address change notifications and failed password attempt notifications. In concluding this settlement, Scottrade neither admitted nor denied the charges, but consented to the entry of FINRA's findings.

Scottrade Plans Des Peres Expansion

Scottrade plans to expand into space in a building in Des Peres that's currently occupied by AT&T. AT&T's lease at 13075 Manchester Road, west of Interstate 270, is set to expire at year's end after 30 years. The 130,000-square-foot, three-story building is owned by STV Westmark LP, which plans to add a three-level, 200-space parking garage.

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