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Canada's CI Investments returns C$156 mln to investors

Published 2016-02-10, 04:25 p/m
© Reuters. Canada's CI Investments returns C$156 mln to investors
CIX
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TORONTO, Feb 10 (Reuters) - Canadian investment fund manager
CI Investments Inc has agreed to a settlement calling for it to
return C$156.1 million ($112 million) to investors after
miscalculating the value of cash collateral in certain of its
funds, Ontario's securities regulator said on Thursday.
The settlement - which includes an C$8 million payment to
the Ontario Securities Commission and C$50,000 to cover the cost
of their investigation - is the largest compensation since the
regulator introduced no-contest settlements in 2014.
As per the terms of such settlements, CI Investments, a unit
of CI Financial Corp CIX.TO , neither admitted nor denied the
allegations of OSC staff that it had not adequately monitored
the valuations of the funds.
($1 = 1.3917 Canadian dollars)

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