RBC to pay $1M in fines over commissions on house funds

Investors need to ask their advisors how they are compensated, and whose interests are served by investment choices.

Shehryar Khan, CFA 26 June, 2018 | 5:00PM

 

 

Shehryar Khan: In a settlement agreed to this week between Royal Mutual Funds and the Ontario Securities Commission, Royal Bank agreed to pay just over $1 million dollars in fines for engaging in practices that violated regulations regarding the sales of proprietary funds. In a nutshell, Royal Mutual Funds paid higher commissions on the sale of a certain subset of RBC funds than for other RBC and non-RBC funds, which is against the rules.

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Shehryar Khan, CFA

Shehryar Khan, CFA  Shehryar Khan, CFA, is a senior investment analyst for Morningstar’s Investment Management group.

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