Quadrus to pay clients $8 million in compensation
Quadrus self-reported that its funds indirectly overcharged certain clients
Editorial
OSC approves no-contest settlement
Compliance deficiencies led to clients paying excess fees
The $8 million EY payment is consistent with those imposed by the SEC in similar matters
Settlement with audit firm entered into on a no-contest basis
Hearing scheduled to consider the the regulator’s first ever no contest settlement
Four new initiatives intended to strengthen and speed up enforcement
Faster settlements would make enforcement staff more productive and able to take more actions