RBC is Fined $2.6 Million for Options Reporting Violations


RBC Capital Markets was fined $2.6 million by FINRA for a complaint related to options reporting violations. Here are the important details of the complaint:

  • From January 2014 to December 2018, RBC failed to report OTC options positions in violation of FINRA Rule 2360(b)(5).
  • The reporting failure by RBC resulted in errors in the reporting logic of the firm’s internal risk system. This remained undetected for years accounting to FINRA.
  • The errors were self-reported to FINRA by RBC.

FINRA’s AWC with RBC Capital Markets Concerning OTC Option Trade Reporting

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