Defendant Name:
RBC Capital Markets, LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
2021-179
Document Details
Legal Case Name
In the Matter of RBC Capital Markets, LLC
Document Name
RBC Charged With Failing to Give Priority to Retail and Institutional Investors in Municipal Offerings
Document Date
17-Sep-2021
Document Format
Administrative Proceeding
Allegation Type
Municipal Securities & Public Pensions
Document Summary
The SEC "announced that RBC
Capital Markets LLC has agreed to pay more than $800,000 to resolve charges that it engaged in unfair dealing in
municipal bond offerings. The SEC also announced settled charges against Kenneth G. Friedrich, RBC's former
head of Municipal Sales, Trading and Syndication, and Jaime L. Durando, the head of RBC's municipal syndicate
desk."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Disgorgement
Individual:
$552,440.00
Shared:
Civil Penalty
Individual:
$150,000.00
Shared:
Pre-Judgment Interest
Individual:
$160,886.00
Shared: