Commodity Futures Trading Commission v. Royal Bank of Canada

  1. December 18, 2014

    RBC Pays $35M To End CFTC's Wash Trading Case

    Royal Bank of Canada has struck a $35 million deal with the Commodity Futures Trading Commission to settle charges that its extensive "wash trading" on a Chicago futures exchange — an effort to reap tax breaks — was noncompetitive and illegal.

  2. August 19, 2014

    RBC Hits Back At CFTC In Wash Trading Case

    The Royal Bank of Canada returned fire at the Commodity Futures Trading Commission in New York federal court Monday, saying the CFTC's recent motion for summary judgment — on two of its three claims alleging the bank took part in a massive wash trading scheme — is based on an "inexplicably incorrect legal theory."

  3. August 18, 2014

    CFTC Says RBC Wash-Trade Claim Isn't Time-Barred

    The U.S. Commodity Futures Trading Commission on Monday fired back at the Royal Bank of Canada, telling a New York federal judge that certain of its claims against the bank are not timed-barred as RBC had said in an earlier filing.

  4. August 13, 2014

    RBC Says CFTC Claim In Wash Trading Case Is Time-Barred

    The Royal Bank of Canada on Tuesday asked a New York district court to toss one of the U.S. Commodity Futures Trading Commission's claims in a suit alleging the bank engaged in a massive scheme involving unlawful, uncompetitive trading, or "wash trading," arguing the claim not only lacks merit but is barred by the statute of limitations.

  5. July 31, 2014

    CFTC Seeks $139M Penalty In RBC Wash Trading Case

    The U.S. Commodity Futures Trading Commission on Thursday pressed a New York federal judge for nearly $139 million in penalties against the Royal Bank of Canada for engaging in a massive scheme involving unlawful, uncompetitive trading, or "wash trading," to reap Canadian tax breaks and avoid risks.

  6. July 29, 2014

    CFTC To Hammer Out Deal With RBC Over Wash Trading

    The U.S. Commodity Futures Trading Commission and the Royal Bank of Canada got a step closer to resolving the regulator's claims that the bank engaged in a massive wash trading scheme, when a New York federal judge agreed Tuesday to schedule a settlement conference for next month.

  7. June 20, 2014

    RBC Can't Force Testimony In Wash Trading Suit, CFTC Says

    The Commodity Futures Trading Commission, the federal agency suing Royal Bank of Canada over alleged wash trading, asked a federal court on Friday to deny RBC's motions seeking to compel witnesses to testify about the commission's 2006 inquiry into RBC's alleged affiliate block trading and tax benefits.

  8. May 21, 2014

    RBC Ordered To Pay CFTC's Legal Bill In Trading Doc Row

    A New York federal judge on Tuesday ordered the Royal Bank of Canada to reimburse the U.S. Commodity Futures Trading Commission for nearly $40,000 in attorneys' fees for delaying the delivery of documents related to a suit accusing it of engaging in illegal, risk-free trading. 

  9. May 09, 2013

    RBC's Discovery Bid In Wash-Trading Suit Falls Short

    A New York federal judge on Wednesday rejected the Royal Bank of Canada's bid to force the U.S. Commodity Futures Trading Commission to release certain notes related to its investigation of the bank, ruling that the agency wasn't required to provide the documents since they are internal communications.

  10. April 08, 2013

    CFTC Knows Its Wash Trading Claims Are False, RBC Says

    The Royal Bank of Canada accused the U.S. Commodity Futures Trading Commission in New York federal court Friday of rebuffing its requests for documents to hide that the agency's wash-trading lawsuit against RBC has no factual basis.