TORONTO 鈥� CI小蓝视频 is the latest Canadian bank to face fines for records-keeping violations in the United States.
The Commodity Futures Trading Commission (CFTC) has imposed a US$30-million penalty, while the Securities and Exchange Commission announced charges that have led to a US$12-million penalty against two CI小蓝视频 divisions.
The charges relate to the use of unapproved communications methods for banks including personal text messaging and a failure to keep records of what was said.
The CFTC says that from at least 2018 CI小蓝视频 failed to stop employees, including at the senior level and even those tasked with ensuring compliance with the rules, from using the methods that also go against the bank's own policies.
CI小蓝视频 says it fully co-operated with the regulators and respects their decisions. It says that it took immediate steps to implement remedies internally.
The SEC said Tuesday that Canaccord Genuity has also agreed to a US$1.25-million penalty for records-keeping violations, while R小蓝视频, TD Bank Group, Scotiabank and BMO have also previously paid fines related to the issue.
This report by The Canadian Press was first published Sept. 24, 2024.
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