The Quebec District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Courvie Securities Inc.

On January 17, the Quebec District Council approved a settlement agreement negotiated between Courvie Securities Inc. and the association staff.

Pursuant to the agreement, Courvie Securities Inc. admitted that it failed to maintain its risk adjusted capital at a level greater than zero, and that it also failed to maintain a proper system of financial books and records,

Courvie Securities was fined $40,000. As well, the company was ordered to pay $2,175 toward the costs of the IDA’s investigation.