RBC Capital Markets LLC - Pennsylvania Securities Act Consent Order

The Pennsylvania Department of Banking and Securities issued a final consent order against RBC Capital Markets LLC for violations of the Pennsylvania Securities Act. As a binding enforcement action, this order imposes specific sanctions, potential disgorgement, and cease-and-desist requirements on the firm. The specific violations and penalty amounts are redacted in the available document.

Affected parties including broker-dealers and investment advisers operating in Pennsylvania should review this enforcement action to assess whether similar practices may expose them to liability under state securities laws. Pennsylvania-registered securities firms should ensure their supervisory procedures and sales practices comply with state requirements to avoid similar enforcement actions.