Schwab telling clients in Europe their accounts must move or be transferred by year’s end

[Maverick2608]

https://americanexpatfinance.com/ne...-telling-clients-in-europe-accounts-must-move

What sets Italy and France apart from the rest of the EU that makes Schwab close down all client accounts in Italy and France?

Maybe some sort of regulation unique for Italy and France that ban people from opening brokerage accounts outside of the EU, now that Schwab will stop servicing European clients from the UK and instead service European clients directly from the US?

Any other explanation for the lock down in Italy and France?

 

[sakisf]

https://americanexpatfinance.com/ne...-telling-clients-in-europe-accounts-must-move

What sets Italy and France apart from the rest of the EU that makes Schwab close down all client accounts in Italy and France?

Maybe some sort of regulation unique for Italy and France that ban people from opening brokerage accounts outside of the EU, now that Schwab will stop servicing European clients from the UK and instead service European clients directly from the US?

Any other explanation for the lock down in Italy and France?

Too much reporting required for them by their states, probably not worth their time & effort. Just like EU brokers reject US traders as they don't want to bother with US regulations.