RBC Capital Markets Shortchanged Sales Employees, Suit Says

RBC Capital Markets LLC was hit Thursday with a proposed class action alleging that it violated the Fair Labor Standards Act and New York law by failing to pay overtime to its commission-based sales employees.

Brett Coulter, who was employed as a director of fixed income sales in RBC Wealth Management Institutional Middle Market Sales group, sued on behalf of other similarly situated sales employees.

The complaint alleges that sales employees regularly worked more than 40 hours per week, rarely leaving their desks due to work responsibilities, but never received additional compensation for those extra hours because RBC intentionally misclassified ...