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192706P.pdf   12/28/2020  Gary Luis  v.  RBC Capital Markets, LLC
   U.S. Court of Appeals Case No:  19-2706
   U.S. District Court for the District of Minnesota   
   [PUBLISHED] [Benton, Author, with Shepherd and Kelly, Circuit Judges] 
   Civil Case - Diversity. In breach of contract action brought by clients of 
   RBC Capital Markets, LLC, alleging RBC breached its duty to comply with 
   FINRA rules and know the clients' profiles when it invested in reverse 
   convertible notes, the district court properly granted summary judgment to 
   RBC, concluding the Client Account Agreement did not create a duty. 
   Applying Minnesota law, "subject to" language does not create a 
   contractual duty but rather is an acknowledgment by clients that RBC will 
   comply with FINRA rules. The "I agree" phrase is likewise an 
   acknowledgment of the terms and conditions and does not create a duty. The 
   plain language of the Agreement does not create a duty that RBC "know your 
   customer."