Defendant Name:
Royal Bank of Canada
Defendant Type:
Public Company
SIC Code:
6719
CUSIP:
78008710
Document Reference:
34-98849
Document Details
Legal Case Name
In the Matter of Royal Bank of Canada
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
02-Nov-2023
Document Format
Administrative Proceeding
AAER
4473
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On November 2, 2023, the SEC instituted cease-and-desist proceedings against Royal Bank of Canada, stating: "This matter concerns internal accounting control deficiencies relating to accounting
for internally developed software (“IDS”) costs by Respondent Royal Bank of Canada."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$6,000,000.00
Shared: