BMO Nesbitt Burns today announced that a Hearing Panel
of the Investment Dealers Association of Canada (IDA) has approved a settlement
between BMO Nesbitt Burns and the IDA related to certain trading activity
in mutual funds.
BMO Nesbitt Burns
made the following statement about the settlement:
"Our business is built on the confidence and trust of our clients
and our determination to provide them with outstanding service, performance
and governance. BMO Nesbitt Burns takes its regulatory responsibilities
very seriously and we co-operated fully with the IDA in the course of
its investigation to resolve this matter. We have implemented enhancements
to our policies and procedures."
The settlement agreement
does not materially impact BMO Financial Group's financial statements.
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