The Investment Dealers Association said it has imposed $795,000 in discipline penalties on National Bank Financial for violations of various bylaws and regulations.

The penalty, plus a further $50,000 for costs, largely stems from misconduct at an NBF branch in Joliette, Que.

“National Bank cooperated fully with the investigation of the matters which are the subject of this agreement, fully acknowledged its responsibility in respect of the failures identified, and has shown itself willing to correct the weaknesses which gave rise to the violations,” the IDA said in a statement.

“National Bank has paid substantial amounts to compensate the clients of the representatives that it failed to supervise adequately.”