Royal Bank of Canada on Tuesday agreed to pay C$21.8 million ($16.5 million) in compensation to clients who were charged excess fees for mutual fund products and fee-based accounts.
Canada's biggest lender agreed to make the payments as part of a settlement with the Ontario Securities Commission, the country's biggest securities regulator. ($1 = 1.3177 Canadian dollars) (Reporting by Matt Scuffham; Editing by Leslie Adler)