A hearing panel of the Investment Dealers Association of Canada Peregrine Financial Group Canada Inc. $40,000 being capital deficient.

Following a settlement hearing, the panel accepted a settlement agreement negotiated between staff of the IDA and Peregrine. Peregrine admitted to being capital deficient from December 2005 to March 2006.

Upon notification of the capital deficiency, Peregrine took immediate steps to rectify the deficiency and no client accounts or client funds were put at risk. Peregrine was also charged with a one-time risk adjusted premium by the Canadian Investor Protection Fund (CIPF).