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Spitzer skips RBC inquiry

NEW YORK – Eliot Spitzer, the New York State attorney general, will not pursue a formal inquiry into Royal Bank of Canada (RBC) for overpayments its clients made on foreign exchange trades.

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Although the attorney general’s office refused to comment on the case, which was opened last March when it served a subpoena requesting information from RBC, sources close to the investigation confirm that it has been dropped.

The case has not been closed, however, and the current position could change if any of RBC’s clients were to file a complaint with Spitzer’s office, says the source.

Spitzer’s interest in RBC stemmed from reports in the UK financial press that Canada’s largest bank had

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