Royal Bank of Canada (RBC) will pay $6 million in total penalties to settle charges from the Securities and Exchange Commission (SEC) and two Canadian regulators that it failed to properly record software development costs for more than a decade.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...