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Investment regulator imposed $14M in enforcement penalties in latest fiscal year

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Canada’s investment product regulator says it imposed more than $14 million in fines and other financial enforcements in its last fiscal year.

The Canadian PressThe S&P TSX composite index screen at the TMX Market Centre in Toronto is photographed on Friday, Nov.11, 2022.

The Canadian Investment Regulatory Organization says the total also includes imposed costs and the forced return of ill-gotten profits. Enforcement efforts included a $2 million fine against Fortrade Canada for recommending a high-risk product to unsophisticated retail clients, and a $1.7 million fine and permanent ban on securities-related business against Paul Walker for a range of misconduct including soliciting more than $1.5 million in investments for an outside business activity.

 

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