Violation Tracker Individual Record

Company: 
RBC Dain Rauscher, Inc.
Current Parent Company: 
Royal Bank of Canada
Penalty: 
$1,158,000
Year: 
2005
Date: 
November 14, 2005
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

NASD fined three firms-and expelled a fourth-for violations relating to trading in corporate high yield bonds. All four firms were cited for charging excessive markups or markdowns in bond trades, as well as for supervision violations.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
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
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

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.