RBC, TD to Pay Millions to Settle US SEC Charges Over Recordkeeping Violations

RBC, TD to Pay Millions to Settle US SEC Charges Over Recordkeeping Violations
Bank towers are shown from Bay Street in Toronto's financial district, on June 16, 2010. The Canadian Press/Adrien Veczan
|Updated:
0:00

RBC and TD Bank Group have agreed to pay tens of millions of dollars in penalties after being charged by the U.S. Securities and Exchange Commission over recordkeeping violations.

RBC Capital Markets has agreed to pay US$45 million. Various TD divisions, including its recently acquired Cowen and Co., have agreed to pay a US$46.5 million penalty to the SEC plus a total of US$82 million to the U.S. Commodity Futures Trading Commission.