RBC Capital to pay $30.4 million to settle charges
RBC Capital is charged with misconduct in the sale of CDOs by the SEC
RBC Capital has agreed to pay $30.4 million into a fair fund to settle charges of misconduct brought by the US Securities and Exchange Commission (SEC).
The charges relate to $200 million of credit-linked notes that were tied to the performance of synthetic collateralised debt obligations (CDOs). These were sold to five Wisconsin school districts in the US.
The SEC says the sales took place even though there were significant concerns within RBC Capital about the suitability of the CDOs for
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