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
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
Resolutions
Cease and Desist Order
Censured
Bars:
- 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:
