The Securities and Exchange Commission (SEC) yesterday charged Charles Schwab Investment Management (CSIM) and Charles Schwab & Co. Inc. (CS&Co.) with making misleading statements regarding the Schwab YieldPlus Fund and failing to prevent the misuse of material, nonpublic information. The SEC also charged CSIM and Schwab Investments with deviating from the YieldPlus fund’s concentration policy without shareholder approval. Regulators also filed a complaint in federal court against two Schwab executives, alleging they committed fraud and other securities law violations in connection with the YieldPlus Fund. CSIM and CS&Co. agreed to pay more than $118 million to settle the SEC’s charges. The SEC’s case continues against the executives.