The SEC announced an enforcement action with parallel settlements by FinCEN and FINRA resolving allegations that Canaccord failed to file and investigate hundreds of suspicious activity reports tied to OTC and penny‑stock trading. Regulators said the coordinated action produced a combined settlement of roughly $80 million, with portions suspended subject to compliance conditions.

On March 6, 2026, U.S. regulators including the SEC, FinCEN and FINRA disclosed coordinated enforcement resolving long‑running allegations that Canaccord Genuity LLC failed to satisfy Bank Secrecy Act/AML obligations in its handling of over‑the‑counter and penny‑stock trading. Authorities said hundreds of potentially suspicious transactions were not properly reported or investigated, enabling manipulative trading activity to go undetected. The settlements totalled roughly $80 million in combined penalties and remedial measures; some amounts were suspended contingent on the firm meeting enhanced compliance and remediation targets. The SEC characterized the lapses as willful failures of AML program obligations, citing inadequate SAR filings and insufficient internal controls to monitor high‑risk retail trading and OTC flows. As part of the resolution, Canaccord agreed to strengthen its surveillance, reporting, and escalation procedures, improve transaction monitoring systems, and submit to independent testing and supervisory oversight. Regulators framed the coordinated penalties as an example of cross‑agency cooperation to address systemic AML vulnerabilities in retail and OTC markets.