The logo for Canaccord Genuity is shown in Toronto on Wednesday, March 8, 2023. THE CANADIAN PRESS/Staff

Canaccord Genuity Group Inc. CF-T has set aside US$75-million to pay penalties from U.S. regulators as the investment bank attempts to settle a long-running investigation into its Wall Street office.

Toronto-based Canaccord announced late Thursday it boosted its provision for fines by US$55-million in the latest update on a two-year negotiation.

In a press release, the company gave no timetable on a settlement, and said “it continues to actively pursue a unified resolution of its previously disclosed regulatory enforcement matters.”

In June, 2023, Canaccord disclosed it faced an investigation into its U.S. wholesale market-making operations and would probably incur a significant

See Full Page