Violation Tracker Individual Record

Company: 
RBC Capital Markets Corporation
Current Parent Company: 
Royal Bank of Canada
Penalty: 
$859,800,000
Year: 
2008
Date: 
October 8, 2008
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

RBC agreed to return $850 million to investors and pay $9.8 million in civil penalties as part of the resolution of multistate litigation alleging it misled customers in the marketing and sale of auction rate securities.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Canada
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.