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RBC Capital Markets LLC Consent Order - Excessive Commissions, $160,610 Restitution

The Washington State Department of Financial Institutions Securities Division issued a Consent Order against RBC Capital Markets LLC for charging unreasonable commissions exceeding 5% of the principal amount on small equity transactions during the period May 16, 2020 to May 16, 2025. The firm charged approximately $3.4 million in excessive commissions across 89,900 equity transactions nationwide, including 4,109 transactions in Washington totaling $160,610.84 in restitution. The order censures RBC, requires permanent cessation of the conduct, and mandates restitution to affected customers.

RBC Capital Markets, LLC – Consent Order S-25-3999-25-CO01

The Washington State Department of Financial Institutions Division of Securities entered a Consent Order against RBC Capital Markets, LLC for charging unreasonable commissions exceeding 5% of principal trade amounts on equity transactions. Between May 2020 and May 2025, the firm executed 4,109 equity transactions in Washington with unreasonable Minimum Equity Commission charges, totaling $160,510.84. The firm was also found to have failed in its supervisory obligations regarding these commission practices.