Defendant Name: RBC Capital Markets, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 34-102860_3-22003

Document Details

Legal Case Name In the Matter of RBC Capital Markets, LLC
Document Name Order Denying Motions to Modify or Amend and Stay Settled Orders
Document Date 14-Apr-2025
Document Format Administrative Proceeding
File Number 3-22003
Allegation Type Investment Advisers/Investment Companies
Document Summary The Commission stated that 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Other Compliance Related Undertaking
The Commission ordered that: "Respondents’ motions are denied."

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."