LAW & REGULATION
Schwab Responsible for Loss: An arbitration panel in Florida has held Charles Schwab & Co. responsible for failing to supervise a customer’s risky trading, even though the discount brokerage doesn’t offer investment guidance. The American Arbitration Assn. panel in Ft. Lauderdale ordered Schwab to pay Joel Peterzell $39,500 out of $132,870 he lost trading options in 1986-87. The former customer was held responsible for the remainder. San Francisco-based Schwab said it would not appeal the ruling.
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