Texas Slaps RBC With Fine Over Adviser Registrations

Law360, Houston (September 17, 2013, 6:19 PM ET) -- RBC Capital Markets LLC entered an agreement with Texas regulators Monday to pay a $236,000 fine to resolve an investigation into the banking giant’s securities sales associates, many of whom allegedly processed customer orders in states where they were not legally registered.

The Canadian investment bank entered into a consent order with the Texas State Securities Board agreeing to pay the fine and improve oversight of the registration status of its client associates and its system for placing customer orders, ending the state’s investigation.

“RBC’s failure...
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