Charles Schwab, the discount US brokerage, will move its listing to the Nasdaq after eight years on the New York Stock Exchange. It comes after the firm was fined $1m (€840,000) by the NYSE last month for failing to protect customers from corrupt investment advisers.

The firm, which earlier this year was forced to issue a statement denying it was up for sale, has been dual listed on the two exchanges for the past two years.