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 activity.
