meta_id 3084923

On April 2, 2026, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-25-3999-25-CO01) against RBC Capital Markets, LLC for violations of Washington securities law. Between May 2020 and May 2025, RBC Capital Markets, LLC charged unreasonable commissions exceeding 5 percent of the principal trade amount on equity transactions. The firm executed 4,109 equity transactions in Washington that included unreasonable commissions for services performed, totalling $160,610.84 in excess charges. The Division of Securities found that RBC Capital Markets, LLC failed to reasonably supervise certain transactions, including those subject to Minimum Equity Commission charges, to ensure customers were charged reasonable commissions in accordance with applicable standards. The Consent Order requires RBC Capital Markets, LLC to pay a fine of $25,000 and provide restitution of $160,610.84 to affected customers. The order also includes a cease and desist provision prohibiting the continuation of the conduct that gave rise to the violations. The enforcement action was undertaken pursuant to RCW 21.20.110 and WAC 460-20C-150. **References:** Washington State Department of Financial Institutions Division of Securities. Consent Order S-25-3999-25-CO01: RBC Capital Markets, LLC. Available at: https://dfi.wa.gov/