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A Federal court ordered the Royal Bank of Canada to pay a hefty penalty for an alleged wash trading scheme conducted during the 2000’s.
A U.S. federal court on Thursday penalized the Royal Bank of Canada (RBC) $35 million for engaging in more than 1,000 illegal wash sales, fictitious sales and noncompetitive transactions over a three-year period, officials say. The order entered by the court arose from a complaint filed by the CFTC in 2012, charging RBC with several...
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