RBC Capital Markets LLC. has agreed to pay $685,520 in restitution to settle charges that it violated a supervisory municipal securities rule after the Financial Industry Regulatory Authority found it didn't establish a supervisory system when advising customers on 529 plans causing those customers to incur excess fees.

FINRA - Financial Industry Regulatory Authority

Source

Published on Dec. 15th, 2020 Published on Dec. 15th, 2020

Scenario: Conduct / Client Overcharging

To read more operational risk news, register for free on MSTAR Platform.

MSTAR News

Sept. 20th, 2021

ORX Forum

ELSEWARE/MSTAR will be speaking on climate stress on operational risk at the ORX forum on September 23. In particular, we will be presenting the work we have done on this topic with the American Bankers Association and a group of banks.