FINRA slapped a subsidiary of National Bank of Canada with a $20,000 fine for failing to review the incoming and outgoing email correspondence of its registered reps.
According to a FINRA filing this week, National Bank of Canada Financial Inc. neglected to implement a supervisory system to ensure compliance with rules that firms develop written procedures for the review of incoming and outgoing written and electronic communication with the public relating to their investment banking or securities business.
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