Royal Bank of Canada – The News Desk

Canada Approves Royal Bank Deal for HSBC’s Canada Unit

22Dec

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Canada Approves Royal Bank Deal for HSBC’s Canada Unit

Updated Dec. 21, 2023 9:20 pm ETOTTAWA—Canada on Thursday approved Royal Bank of Canada’s proposed $10.1 billion deal for HSBC Holdings’s Canadian unit, over a year after the two lenders unveiled the transaction.Canadian Finance Minister Chrystia Freeland said RBC agreed to a series of conditions that cover employment levels in Canada, customer service and financing to help construct affordable housing.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Companies in finance and accounting are now recruiting for interns nearly 18 months before college students would be expected to start.

Royal Bank of Canada Fined C$7.5 Million Over Money-Laundering Lapses

OTTAWA—Canada’s financial-intelligence agency said Tuesday it has fined Royal Bank of Canada, the country’s largest lender by market capitalization, for failing to comply with the country’s rules aimed at deterring money laundering.The Financial Transactions and Reports Analysis Centre of Canada, or Fintrac, said the fine, of 7.5 million Canadian dollars, or the equivalent of $5.5 million, is the largest financial penalty it has yet levied.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8