Investors Group fined $150,000

By The IJ Staff | May 21 2019 09:30AM

The Mutual Fund Dealers Association of Canada (MFDA) has approved a settlement agreement with Investors Group Financial Services Inc.

Investors Group admitted that from May 2013 to July 2014, “it failed to adequately query the suitability of the recommendation and sale of mutual funds subject to deferred sales charges to two elderly clients,” said the MFDA in a May 17 statement.

As part of the agreement, Investors Group was sanctioned $150,000 and costs in the amount of $15,000.

To learn more, the Settlement Agreement is available on the MFDA website

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