Massachusetts fines RBC $200,000 over failure to supervise

RBC Capital Markets has signed a consent order with Massachusetts securities regulators, accepting a censure and a $200,000 fine for failing to supervise former broker Bruce Cameron, who over-concentrated the portfolios of senior citizens in energy sector master limited partnerships.

Cameron, a 50-year veteran of the securities industry, left the firm and dropped his securities registrations last November after being censured by the state.

[More: RBC recruits female team managing $1.2 billion from JPMorgan]

In addition to the fine, RBC was ordered to provide offers of reimbursement to the affected investors.

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