Securities Lawyers Blog
The securities lawyers at Gana Weinstein LLP represent investors who have been mistreated by their brokers and suffered investment losses. Our firm is experienced in bringing claims against brokerage firms, such as RBC Cma Ltd, to hold Wall Street responsible for their misconduct. When a client contacts our firm they can expect that our attorneys will have the knowledge and ability to evaluate the potential claims and analyze their trading activity for red flags of misconduct. Our consultations are designed to help provide clients with all available options.
RBC CMA Ltd is a Royal Bank of Canada broker-dealer organized in Tortola that is registered with the SEC and operates from an office at 200 Vesey Street in New York. Registered with the SEC since 2002, the firm is owned by Royal Bank Holding Inc. and is registered with two self-regulatory organizations and four U.S. states and territories.
RBC Cma Ltd – By the Numbers:
- CRD #: 121263
- Regulatory Events: 6
- Broker Employees: 30
RBC Cma Ltd – In the News:
FINRA v. RBC Cma Ltd (Case #2020068581801) – From August 28, 2015, to November 2, 2020, the firm reported to FINRA a total of 1,554,311,898 orders with an inaccurate capacity code, in violation of FINRA Rules 7230A(d)(7), 7230B(d)(7), 7330(d)(7), and 2010. The order memoranda associated with these transactions also included the wrong capacity, in violation of Securities Exchange Act § 17(a), Exchange Act Rule 17a-3, and FINRA Rules 4511(a) and 2010. Additionally, the firm failed to establish and maintain a supervisory system that was reasonably designed to achieve compliance with certain applicable securities laws and regulations, and FINRA Rules, with respect to submission of accurate capacity codes on orders submitted to various trade reporting facilities, in violation of FINRA Rules 3110 and 2010.
FINRA v. RBC Cma Ltd (Case #2016049821601) – RBC-CM from 1998, and RBC-CMA from 2002, and continuing to the present (the “Relevant Period”), failed to maintain a vast number of electronic brokerage records in non-erasable and non-rewritable format, known as WORM format, as required by Section 17(a) of the Exchange Act of 1934 (the “Exchange Act”), Rule 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. WORM stands for “write once, read many,” and is intended to prevent the alteration or destruction of broker-dealer records stored electronically. RBC also experienced related audit and attestation deficiencies affecting the ability to adequately retain and preserve electronic records, in violation of Exchange Act Rule 17a-4(f), NASD Rule 3110 and FINRA Rule 4511. Finally, RBC failed to enforce written supervisory procedures reasonably designed to achieve compliance with the WORM requirement, in violation of NASD Rule 3010 and FINRA Rule 3110.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.