RBC agrees to $45 million mutual fund trailing commissions settlement
If approved, a distribution protocol will be established to outline how eligible investors can claim their share. However, the net amount reaching investors will be reduced. Siskinds LLP is seeking $12.6 million in legal fees from the settlement fund, plus court expenses and applicable taxes.
RBC has denied all allegations. The bank admitted no wrongdoing or liability and agreed to the settlement solely to avoid the cost and uncertainty of prolonged litigation, according to the settlement agreement.
What this means for advisors and their clients
Eligible class members are automatically included. No immediate action is required to participate in the settlement.
Investors who wish to object to the settlement terms or to the requested legal fees must file a formal objection by August 18, 2026.
Wealth professionals whose clients held RBC or PH&N mutual funds through discount brokerage platforms during the covered period should be aware that those clients may receive a payout. Proactively flagging this to affected clients is a straightforward way to demonstrate value and stay ahead of questions.
