Violation Tracker Individual Record

Company: 
Royal Bank of Canada
Current Parent Company: 
Royal Bank of Canada
Penalty: 
$35,000,000
Year: 
2014
Date: 
December 18, 2014
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
securities issuance or trading violation
Violation Description: 

The U.S. Commodity Futures Trading Commission (announced that a federal judge in the Southern District of New York entered a Consent Order for Permanent Injunction and Civil Monetary Penalty against Royal Bank of Canada for engaging in more than 1,000 illegal wash sales, fictitious sales, and noncompetitive transactions over a three-year period.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Commodity Futures Trading Commission
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.