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A "wash trading scheme of massive proportions" is alleged by the CFTC against Royal Bank of...

Apr. 02, 2012 4:35 PM ETRoyal Bank of Canada (RY) Stock, RY:CA StockRYBy: Stephen Alpher, SA News Editor8 Comments
A "wash trading scheme of massive proportions" is alleged by the CFTC against Royal Bank of Canada (NYSE:RY). The CFTC says the bank engaged in stock futures trades with 2 foreign subsidiaries from 2007-10 that weren't "at arm's length," carried no market risk, and were designed to get Canadian tax credits on its stock holdings. Shares -2% AH.

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