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April 26, 2015 5:37 PM ET

Capital Markets

Company Overview of Scottrade, Inc.

Company Overview

Scottrade, Inc. is an online investing company that provides investment products, online trading services, and market research tools for investors and traders. Its products include stocks, international investments, exchange-traded funds, options, mutual funds, bonds, certificates of deposit (CDs), and treasuries. The company also offers individual and joint brokerage accounts; banking accounts comprising checking, savings, money market, and CDs; retirement accounts, including traditional, Roth, rollover, simple, and self-employed individual retirement accounts; custodial/guardian accounts; specialty accounts that include testamentary and non-testamentary trust accounts, Keogh, 401(k), money...

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.

Chief Executive Officer, President and President of Scottrade Brokerage
Chief Financial Officer
Executive Director of Operations
Chief Executive Officer of Focusshares and President of Focusshares
Compensation as of Fiscal Year 2014.

Scottrade, Inc. Key Developments

Scottrade, Inc. Names Steve Jensen as Chief Information Security Officer

Scottrade, Inc. announced that Steve Jensen joined the company as chief information security officer. Jensen will be responsible for leading the ongoing development and execution of the company's cybersecurity strategy, which includes oversight of Scottrade's client data, money assets, information and reputation. Jensen previously served as Ameriprise Financial Inc.'s chief information security officer.

Scottrade Advisor Services Appoints Brian Stimpfl as Senior Vice President of Program Strategy and Operations

Brian Stimpfl has joined Scottrade Advisor Services, a business unit of investing firm Scottrade Inc., as senior vice president of Program Strategy and Operations. Stimpfl will oversee strategy and operations for the custodial unit serving more than 1,000 advisory firms. Stimpfl's career began more than 20 years ago in the financial services industry where he spent time as a managing director at TD Ameritrade Institutional before serving as senior vice president at ActiFi Inc.

Scottrade Agrees to Pay $2.5 Million to Securities and Exchange Commission and Admits Providing Flawed Blue Sheet Trading Data

The Securities and Exchange Commission charged Scottrade with failing to provide the agency with complete and accurate information about trades done by the firm and its customers, which is commonly called 'blue sheet' data. The company agreed to settle the charges by paying a $2.5 million penalty and admitting it violated the recordkeeping provisions of the federal securities laws. According to the SEC's order instituting settled administrative proceedings, broker-dealers like the company are required upon request to electronically provide the SEC with blue sheet data so the agency can use it to identify and analyze trades in the course of investigations and other work. Blue sheets contain the details of each equity or options trade that is routed through clearing broker-dealers. The term 'blue sheet' stems from the color of the forms originally mailed to broker-dealers to complete and return to the SEC. The process shifted to an electronic format in the 1980's. According to the SEC's order, the SEC staff sent electronic blue sheet requests to the company in December 2011 in connection with an investigation the agency was conducting into suspicious trades made in the company online brokerage account that was the apparent victim of account intrusion. After receiving the blue sheet information, SEC staff discovered that the company’s submission was incomplete as it failed to include data from a number of trades that resulted from unauthorized account intrusions. After the SEC staff contacted the company questioning the data, the firm informed the agency that a computer coding error had resulted in the inadvertent omission of the trades. The SEC's order finds that the company’s computer coding error resulted in the omission of trades from blue sheet responses it made to the SEC from March 2006 to April 2012. During that time, the company failed to provide the required blue sheet information on 1,231 occasions. The company has corrected the deficient code responsible for its inaccurate and incomplete blue sheet responses.

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