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.
