The CFTC charges Royal Bank of Canada (RY) of engaging in a massive "wash" trading scheme using...

|About: Royal Bank of Canada (RY)|By:, SA News Editor

The CFTC charges Royal Bank of Canada (RY) of engaging in a massive "wash" trading scheme using stock index futures contracts to reap tax benefits from its shareholdings. The bank denies wrongdoing and intends to fight the allegations, a source tells the WSJ.