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Fintrac says Canaccord Genuity failed to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions or attempted transactions were related to a money laundering or terrorist financing.

It also says the firm failed to develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer.

Fintrac added that Canaccord Genuity failed to assess and document the risk of a money laundering or terrorist financing and failed to take special measures for high risk situations.

Canaccord Genuity did not immediately respond to a request for comment.

This report by The Canadian Press was first published July 3, 2025.

Companies in this story: (TSX:CF)