Regulatory Alerts2025-07-03
FINTRAC imposes an administrative monetary penalty on Canaccord Genuity Corp
FINTRAC imposed a $544,500 administrative monetary penalty on Vancouver-based investment dealer Canaccord Genuity Corp. following a 2023 compliance examination. The penalty addresses the firm's failure to submit suspicious transaction reports, maintain updated compliance policies approved by senior officers, assess money laundering and terrorist financing risks, and implement prescribed special measures for high-risk clients. The penalty, issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, has been paid in full, concluding FINTRAC's enforcement proceedings against the securities dealer.
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