The Ontario District Council of the Investment Dealers Association of Canada has slapped Peregrine Financial Group Canada Inc. with a $25,000 fine for failing to maintain its risk-adjusted capital level above zero.
On July 17, the District Council considered, reviewed and accepted a settlement agreement negotiated between Peregrine and IDA staff. Peregrine admitted that as at Aug. 31, 2001, it failed to maintain its risk-adjusted capital at a level greater than zero.
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