The Globe and Mail reports in its Saturday, Nov. 15, edition that Canaccord Genuity Group has allocated $75-million for penalties to settle a prolonged investigation by U.S. regulators into its Wall Street office (all figures U.S.). The Globe's Andrew Willis writes that Canaccord increased its fine provision by $55-million amid ongoing negotiations. It said it is actively seeking a unified resolution for its regulatory enforcement matters but provided no timeline for a settlement. In June, 2023, Canaccord revealed a probe into its U.S. wholesale market-making operations and anticipated a significant penalty. This April, it sold the wholesale division to Cantor Fitzgerald. Canaccord said it has invested significantly over the past three years in a compliance transformation to align with regulatory standards and improve its existing program. A $75-million settlement would dwarf profits from Canaccord's U.S. operations. Globally, its investment banking division earned a $25.5-million profit in the most recent three-month period, up 71 per cent from the same period of last year. Its wealth management and investment banking divisions earned $44.9-million in the most recent quarter on revenues of $530-million.