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Canaccord agrees to IIROC penalties of $1.1M over retail account supervision
VANCOUVER – The Investment Industry Regulatory Organization of Canada says Canaccord Genuity Corp (TSX:CF) has agreed to fines and other penalties totalling more than $1.1 million related to allegations of inadequate supervision of retail account activity. The IIROC says Canaccord will pay a fine of $750,000, plus an additional $310,000 for disgorged commissions. It will also contribute $50,000 towards the IIROC’s investigation costs.
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