US EditionCanaccord to pay over $100 million for violations of U.S. Bank Secrecy Act
Canaccord's record $109 million fine resolves charges of willful anti-money laundering violations and failure to report over 160 suspicious activities, regulators said.
- On March 6, 2026, Canaccord Genuity Group Inc. agreed to pay more than $100 million in a U.S. settlement following nearly three years of investigations.
- Between Feb. 2019 and March 2022, regulators found Canaccord failed to file at least 160 suspicious activity reports, leaving numerous securities fraud schemes undetected and harming investors, FinCEN and the SEC say.
- Until late 2021 just four employees with other duties reviewed more than 100 reports, leaving low-priced, pump-and-dump, self-trading, and wash sales reports unreviewed for months to four years.
- Canaccord had already set aside US$75-million last November, and the settlement will result in a US$75-million financial impact, or roughly $102.6-million Canadian, exceeding its last quarter's $80.5-million profit before taxes.
- Canaccord says it has undertaken a comprehensive transformation, including hiring staff, third-party review, and selling its U.S. business to Cantor Fitzgerald in April 2025, as FinCEN Director Gacki said 'Today’s action should be a wake-up call.
11 Articles
11 Articles
Canaccord to Pay Over $100 Million for Violations of US Bank Secrecy Act
Canaccord Genuity Group Inc. has agreed to pay a little over $100 million in a settlement reached with three U.S. financial regulators for “wilful violations” of anti-money laundering laws. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) says Canaccord’s “widespread compliance failures” include not conducting proper customer due diligence and not setting up appropriate internal controls to detect suspicious ac…
The Toronto Star
Canaccord to pay over $100 million for violations of U.S. Bank Secrecy Act
TORONTO - Canaccord Genuity Group Inc. has agreed to pay a little over $100 million in a settlement reached with three U.S. financial regulators for "wilful violations" of anti-money laundering
The Globe & Mail
Cryptocurrency News | Cryptocurrency Prices | Market CapCanaccord to pay more than $100-million in settlement for breaking U.S. banking laws
Penalty is the largest ever imposed against a broker-dealer for violating U.S. Bank Secrecy Act
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
