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Vt. gets nearly $39,000 in RBC probe

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December 6, 2013 10:19 AM EST | AP


MONTPELIER, Vt. (AP) — Vermont will get nearly $39,000 from a $2.8 million national settlement of complaints that unregistered employees of a securities firm had been making sales of the financial instruments.

Susan Donegan, commissioner of the Department of Financial Regulation, says the settlement with RBC Capital Markets involved all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Both Donegan and an RBC spokeswoman say the company has changed its practices to ensure that sales by unregistered agents do not recur.

RBC Capital Markets is part of the Royal Bank of Canada, the fifth largest bank in North America.