OneChicago, LLC

Royal Bank of Canada fined $35 m for illegal scheme involving Bahamas, Cayman & other branches

December 18, 2014

Royal Bank of Canada has agreed to pay a $35 million fine to settle a regulatory lawsuit in the United States in which it was accused of perpetrating a "multi-hundred million dollar" fraud through its operations in the Bahamas, Cayman Islands, London, Luxembourg, New York and Toronto.

CFTC v. Royal Bank of Canada: CFTC’s Motion for Sanctions

February 19, 2014

CFTC's Motion to Compel Compliance With Court Order and For Sanctions in CFTC v. Royal Bank of Canada at the U. S. District Court for the Southern District of New York.

CFTC v. Royal Bank of Canada: Amended Complaint

October 17, 2012

Amended Complaint in U.S. Commodity Futures Trading Commission v. Royal Bank of Canada at the U. S. District Court for the Southern District of New York.

Royal Bank of Canada used Cayman and Bahamas branches for ‘massive fraud’, claims U. S. regulator

April 3, 2012

The Cayman Islands and Bahamas branches of Royal Bank of Canada were used by RBC to commit a "multi-hundred million dollar" fraud, according to the U. S. Commodity Futures Trading Commission. The alleged mastermind was not named in the CFTC's complaint but it seems to be Richard Tavoso, RBC's Head of Global Arbitrage and Trading.

CFTC v. Royal Bank of Canada: Complaint

April 2, 2012

Complaint in U. S. Commodity Futures Trading Commission v. Royal Bank of Canada at the U. S. District Court for the Southern District of New York.