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

Return to Archive

TESTIMONIALS

Previous
Next

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

June 14, 2024
Wells Fargo Fires Employees for Faking Work

Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.

June 13, 2024
FINRA Struggles to Revise Outside Business Rules

The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.

June 12, 2024
Tax Court Denies Madoff Victims $8.2 Million Deduction

Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.