Royal Bank of Canada’s RBC Wealth Management unit will pay $690,000 to resolve a brokerage regulator’s claims that a U.S. unit sold unsuitable financial products to elderly clients and others with modest net worth.
The skunk works at IShares’ headquarters in San Francisco is buzzing. Researchers in the development lab pore over data flashing across computer screens while colleagues refill their mugs at the coffee bar and huddle in conference rooms illuminated by translucent blue partitions.
Germany must face a lawsuit over bonds that defaulted under Adolf Hitler in the 1930s, a U.S. appeals court ruled, saying the nation isn’t immune from the claims and that American courts have jurisdiction to decide whether the bonds are enforceable.
Bank of America Corp. will pay more than $2.5 million to settle a regulator’s claims that its Merrill Lynch unit failed to offer customers required discounts on purchases of pooled assets known as unit investment trusts.