Without admitting or denying the SEC's findings, the investment adviser subsidiaries—Charles Schwab & Co. Inc., Charles Schwab Investment Advisory Inc. and Schwab Wealth Investment Advisory Inc.—agreed to a cease-and-desist order prohibiting them from violating the antifraud provisions of the Investment Advisers Act of 1940. The order also censures the firms and requires them to pay approximately $52 million in disgorgement and prejudgment interest, alongside a $135 million civil penalty.