Case summary
On April 2, 2026, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-25-3999-25-CO01) against RBC Capital Markets, LLC.
Order details
Order File: S-25-3999-25-CO01
Laws & Rules: RCW 21.20.110, WAC 460-20C-150
Penalties/Remedies:
- Fines: $25,000
- Restitution: $160,610.84
- Cease and Desist
Findings
- Between May 2020 and May 2025, Respondents took unreasonable commissions (in excess of 5% of the principal trade amount) on equity transactions. In Washington, Respondents executed 4,109 equity transactions that included an unreasonable commission for the service performed, totaling $160,510.84.
- Respondents failed to reasonably supervise certain transactions, which included a Minimum Equity Commission charge, to ensure that customers were charged a reasonable commission.