Defendant Name: RBC Capital Markets, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Royal Bank of Canada
SIC Code: 6719
CUSIP: 78008710

Initial Case Details

Legal Case Name In the Matter of RBC Capital Markets, LLC
First Document Date 14-Aug-2024
Initial Filing Format Administrative Action
File Number 3-22003
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Failure to supervise under Section 203(e)(6) Advisers Act

Resolutions

First Resolution Date 14-Aug-2024
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-100706 14-Aug-2024 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-And-Desist Order
On August 14, 2024, the SEC instituted administrative and cease-and-desist proceedings against RBC Capital Markets, LLC, stating that: "These proceedings arise out of the widespread and longstanding failure of RBC personnel throughout the firm, including at senior levels, to adhere to certain of these essential requirements and the firm’s own policies. Using their personal devices, these personnel communicated both internally and externally by text messages, and/or other unapproved written communications platforms (“off-channel communications”)."
2024-98_3-22003 14-Aug-2024 Press Release--Administrative Proceeding
Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC's Charges for Widespread Recordkeeping Failures
On August 14, 2024, the SEC "announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications."
34-102860_3-22003 14-Apr-2025 Commission Order and Opinion
Order Denying Motions to Modify or Amend and Stay Settled Orders
The Commission says Respondents "signed offers of settlement, in which Respondents admitted to certain violations related to their employees' communications on personal devices." "Respondents now seek to (1) modify their Settled Orders . . . and (2) stay the effectiveness of their undertakings" in order to "'equalize' certain undertakings . . . with those contained in more recent Commission settlements." However, the Commission "den[ied] Respondents' motions."