RBC Capital Markets, LLC has agreed to pay a $375,000 penalty as part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between 2010 and 2019, RBC sent approximately 940,000 trade confirmations to clients that contained inaccurate information.

In addition, between 2006 and 2021, RBC failed to send millions of trade confirmations to customers as required. As a result, the firm violated Exchange Act Rule l0b-10, Exchange Act Section 17(a) and Exchange Act Rule 17a-3, FINRA Rules 2232, 4511, and 2010, and MSRB Rules G-15 and G-8, promulgated pursuant to Section 10(b) of the Securities Exchange Act of 1934.

RBC also violated NASD Rules 3010 and 2110, FINRA Rules 3110 and 2010, and MSRB Rule G-27 by failing to establish, maintain, and enforce a supervisory system (including written supervisory procedures) reasonably designed to achieve compliance with the trade confirmation requirements to comply with the Exchange Act, Exchange Act rules, and FlNRA and MSRB rules.

In addition, from 2012 through 2016, RBC violated FINRA Rule 2010 by extending credit to certain customers of RBC and RBC Referral Corporation in violation of Regulation T promulgated by the Board of Governors of the Federal Reserve System under Section T of the Securities Exchange Act of 1934.

In addition to a $375,000 fine, the firm agreed to a censure.