- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-04-18T17:08:00
RBC Capital Markets agreed to pay nearly $1.1 million as part of a settlement with the Financial Industry Regulatory Authority (FINRA) for failing to establish and maintain a reasonable supervisory system to monitor the suitability of short-term trading recommendations.
The agreement, published Friday, requires RBC to pay a $300,000 fine, $128,643 in restitution, and disgorgement of $653,313. A senior manager at the investment bank must certify to FINRA within 120 days the issues identified regarding its supervisory systems have been remediated.
RBC Capital Markets is part of Royal Bank of Canada.
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RBC Capital Markets agreed to pay nearly $769,000 to settle allegations levied by the Financial Industry Regulatory Authority, in part, over sending inaccurate information in trade confirmations to customers over nearly a decade.
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