Defendant Name: Kenneth G. Friedrich

Defendant Type: Individual

Document Reference: 34-93043

Document Details

Legal Case Name In the Matter of Kenneth G. Friedrich
Document Name Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b), 15B(c) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date 17-Sep-2021
Document Format Administrative Proceeding
File Number 3-20569
Allegation Type Municipal Securities & Public Pensions
Document Summary The SEC stated: "This matter involves improper conduct by Friedrich in connection with RBC Capital Markets, LLC’s (“RBC”) purchase and sale of certain new issue municipal bonds from and to unregistered brokers known as “flippers.” Friedrich served as Head of RBC’s Municipal Sales, Trading and Syndication group (the “Municipal Group”) from 2010 to June 2016."

Disgorgement & Penalty Information

Cease and Desist Order
  • Bar on association in a supervisory capacity with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization for 6 months
  • "Friedrich shall not offer, purchase, or sell negotiated new issue municipal securities on behalf of (1) any broker, dealer, investment adviser, or municipal securities dealers, or (2) any customer or client of any broker, dealer, investment adviser, or municipal securities dealer" for 6 months
Monetary Penalties:

Civil Penalty

Individual:     $30,000.00 Shared:    

Related Actions:

In the Matter of RBC Capital Markets, LLC
In the Matter of Jaime L. Durando