Latest news with #Fintrac
CTV News
03-07-2025
- Business
- CTV News
Fintrac imposes $544,500 penalty on investment firm Canaccord Genuity
The logo for Canaccord Genuity is shown in Toronto on Wednesday, March 8, 2023. THE CANADIAN PRESS/Staff OTTAWA — Canada's financial watchdog says Canaccord Genuity Corp. has paid a $544,500 fine after a compliance examination in 2023. The Financial Transactions and Reports Analysis Centre of Canada says the penalty was for violations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. Fintrac says Canaccord Genuity failed to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions or attempted transactions were related to a money laundering or terrorist financing. It also says the firm failed to develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer. Fintrac added that Canaccord Genuity failed to assess and document the risk of a money laundering or terrorist financing and failed to take special measures for high risk situations. Canaccord Genuity did not immediately respond to a request for comment. --- This report by The Canadian Press was first published July 3, 2025.
Winnipeg Free Press
03-07-2025
- Business
- Winnipeg Free Press
Fintrac imposes $544,500 penalty on investment firm Canaccord Genuity
OTTAWA – Canada's financial watchdog says Canaccord Genuity Corp. has paid a $544,500 fine after a compliance examination in 2023. The Financial Transactions and Reports Analysis Centre of Canada says the penalty was for violations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. Fintrac says Canaccord Genuity failed to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions or attempted transactions were related to a money laundering or terrorist financing. It also says the firm failed to develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer. Fintrac added that Canaccord Genuity failed to assess and document the risk of a money laundering or terrorist financing and failed to take special measures for high risk situations. Canaccord Genuity did not immediately respond to a request for comment. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 3, 2025. Companies in this story: (TSX:CF)
Yahoo
03-07-2025
- Business
- Yahoo
Fintrac imposes $544,500 penalty on investment firm Canaccord Genuity
OTTAWA — Canada's financial watchdog says Canaccord Genuity Corp. has paid a $544,500 fine after a compliance examination in 2023. The Financial Transactions and Reports Analysis Centre of Canada says the penalty was for violations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. Fintrac says Canaccord Genuity failed to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions or attempted transactions were related to a money laundering or terrorist financing. It also says the firm failed to develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer. Fintrac added that Canaccord Genuity failed to assess and document the risk of a money laundering or terrorist financing and failed to take special measures for high risk situations. Canaccord Genuity did not immediately respond to a request for comment. This report by The Canadian Press was first published July 3, 2025. Companies in this story: (TSX:CF) The Canadian Press Sign in to access your portfolio
