RBC Advisor Settles Collusion Probe

Posted on November 7th, 2014 at 9:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

RBC has agreed to pay $990,000 in restitution to settle a collusion probe while promising not to use anti-competitive practices in the future. One of its advisors, R. Craig Rathmann, had been charged with colluding with RBC Capital Markets on municipal utility district bond deals.

The wrong doing began in 2005.  In exchange for RBC’s agreeing not to solicit Rathmann's financial advisory clients, Rathmann agreed to use RBC as lead underwriter on bond refunding, and to secure an underwriting fee of 1.25% for the firm from the bond sale proceeds.

Related Attorneys: James J. Eccleston

Tags: RBC, Advisors, Eccleston Law Offices, R. Craig Rathmann, RBC Capital Markets

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