Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
CFTC fines RBC Capital Markets for unlawful trades
Fine or penalty
The U.S. Commodity Futures Trading Commission fined RBC Capital Markets $6.7 million over failures that resulted in unlawful trades and other violations. The regulator said the firm engaged in at least 385 non-competitive, fictitious or unlawful trades. RBC said the matter had been resolved and that it had introduced measures to prevent recurrence.
Company response
Remediation — RBC Capital Markets
We have enacted a number of measures to prevent this issue from recurring, including improved surveillance and additional training.
Source excerpt
TORONTO — RBC Capital Markets has been fined $6.7 million by the U.S. Commodities and Futures Trading Commission for failures that resulted in unlawful trades and other violations between at least late 2011 and May 2017.
Between December 2011 and October 2015, RBC Capital Markets (RBCCM), a unit of Canada’s biggest lender, Royal Bank of Canada, engaged in at least 385 non-competitive, fictitious or unlawful trades, the CFTC said in a statement.
This matter has been resolved and we continue to remain committed to complying with regulatory requirements,” a spokeswoman for RBC said by email on Thursday. “We have enacted a number of measures to prevent this issue from recurring, including improved surveillance and additional training.