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