The Ontario District Council of the Investment Dealers Association of Canada has slapped Questrade Inc. with a $20,000 fine for failing to maintain its risk adjusted capital.

In the settlement agreement, accepted on December 2, Questrade admitted that it failed to maintain its risk adjusted capital in excess of zero on three occasions. The IDA says Questrade cooperated fully with the association during its investigation, and no client account balances suffered as a result of these matters.

In addition to the fine, the firm is prohibited from disposing of or pledging any of its assets, equity or goodwill until the fine has been paid, and must pay $4,500 in investigation costs.

For a complete summary of facts, please see IDA Bulletin No. 3084 at www.ida.ca