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FINTRAC imposes an administrative monetary penalty on Gestion de Patrimoine Blue Bridge Inc.

News release

July 31, 2024 — Ottawa — Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC announced today that it has imposed an administrative monetary penalty on Gestion de Patrimoine Blue Bridge Inc. Following a compliance examination in 2022, this independent wealth management firm, considered as a securities dealer, was imposed an administrative monetary penalty of $49,500 on April 19, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

Gestion de Patrimoine Blue Bridge Inc. was found to have committed the following administrative violations:

The administrative monetary penalty has been paid in full by Gestion de Patrimoine Blue Bridge Inc. and proceedings have ended.

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“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy. FINTRAC will continue to work with businesses to help them understand and comply with their obligations under the Act. We will also be firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed.”

Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

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Financial Transactions and Reports Analysis Centre of Canada
613-947-6875
media.medias@fintrac-canafe.gc.ca

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