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