Regulatory Alerts2025-06-12
FINTRAC imposes an administrative monetary penalty on Hub Capital Inc.
FINTRAC imposed a $99,000 administrative monetary penalty on Woodbridge-based wealth management firm Hub Capital Inc. for failing to comply with Canada’s anti-money laundering and terrorist financing regulations. The securities dealer was cited for neglecting to establish updated compliance policies, conduct documented risk assessments, maintain a staff training program, and perform required internal reviews. The penalty has been paid in full, concluding the enforcement action under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Share