RegAlert2026-03-06 | 2026-01Added · Updated
Consent Order Imposing Civil Money Penalty on Canaccord Genuity LLC
FinCEN imposes a civil money penalty on Canaccord Genuity LLC for willful violations of the Bank Secrecy Act and its implementing regulations. The firm failed to implement and maintain an adequate anti-money laundering program, including unreasonable policies and controls for its high-risk over-the-counter market making business. Canaccord also failed to investigate and report a high volume of suspicious transactions, resulting in the non-filing of at least 160 Suspicious Activity Reports.
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UNITED STATES OF AMERICA
FINANCIAL CRIMES ENFORCEMENT NETWORK
DEPARTMENT OF THE TREASURY
IN THE MATTER OF: )
) Number 2026-01
Canaccord Genuity LLC )
CONSENT ORDER IMPOSING CIVIL MONEY PENALTY
The Financial Crimes Enforcement Network (FinCEN) conducted a civil enforcement investigation and determined grounds exist to impose a Civil Money Penalty against Canaccord Genuity LLC (Canaccord or the Firm) for violations of the Bank Secrecy Act (BSA) and its implementing regulations. 1 Canaccord admits to the Statement of Facts and Violations set forth below, consents to the issuance of this Consent Order, agrees to pay the civil money penalty imposed in this Consent Order, and agrees to comply with the Undertaking and other provisions of this Consent Order.
I. JURISDICTION AND RELEVANT REGULATIONS
A. Jurisdiction
Overall authority for enforcement and compliance with the BSA lies with the Director of FinCEN, and the Director of FinCEN may impose civil penalties for violations of the BSA and its implementing regulations.2 1 The BSA is codified at 12 U.S.C. §§ 1829b, 1951–1960, 31 U.S.C. §§ 5311–5314, 5316–5336 and includes other authorities reflected in notes thereto. Regulations implementing the BSA appear at 31 C.F.R. Chapter X. 2 31 U.S.C. § 5321(a); 31 C.F.R. § 1010.810(a), (d); Treasury Order 180-01 (July 1, 2014, reaff’d Jan. 14, 2020).
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Lineage: In force
Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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FINCEN published 7 documents in the last 30 days. We email you each new one the day it's published.