According to FINRA’s Letter of Acceptance, Waiver, and Consent (“AWC”), No. 2014040242501, Canaccord Genuity, Inc. consented to a public censure and FINRA fine of $200,000 relating to FINRA’s claims that Canaccord violated multiple disclosure provisions of FINRA’s research analyst conflict of interest rules and other rules.
FINRA specifically alleged that Canaccord violated FINRA Rule 2711 by:
- Omitting conflict of interest disclosures from certain research reports;
- Failing to present disclosures in a clear, comprehensive, and prominent manner; and
- Failing to implement written supervisory procedures reasonably designed to ensure compliance with FINRA Rule 2711.
Previously, Canaccord consented to a censure and a FINRA fine of $100,000 in December 2012 relating to the publication of certain research reports (AWC No. 2011025431701).
Canaccord has approximately 250 registered representatives operating out of approximately 16 branch offices.
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