Regulatory Alerts2025-06-12
Added · Updated
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.
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