Charles Schwab investigated in mutual fund trading probes

Charles Schwab Corp. said it is "responding to inquiries from federal and state regulators" as part of an industrywide investigation of mutual fund trading. In its latest 10-Q filing with the SEC, the company stated: "Among other things, the company is investigating circumstances in which a small number of parties" were allowed to participate in short term trading after the 4 p.m. closing "in a manner contrary to Schwab policies."