SEC settles with City National Rochdale over conflicts of interest
The bank's RIA unit will pay $30 million into an SEC fund to be distributed to harmed investors.
City National Rochdale, the wholly-owned registered investment advisory unit of New York-based City National Bank, has agreed to pay more than $30 million to settle charges brought by the SEC that the RIA's undisclosed conflicts of interest defrauded clients.
The Securities and Exchange Commissi
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