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U.S. futures regulator accuses RBC of trading scheme

Posted on 03 April 2012

The U.S. futures regulator accused the Royal Bank of Canada on Monday of running a multi-hundred-million-dollar trading scheme to gain lucrative Canadian tax benefits.
The Commodity Futures Trading Commission’s civil lawsuit alleges that a small group of senior RBC employees created and managed a “wash trading” strategy in which they improperly coordinated to allow subsidiaries of the bank to buy and sell stock futures without taking a position in the market………………………………………..Full Article: Source


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