I-13.2.2 - Deposit Institutions and Deposit Protection Act

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45.4. A monetary administrative penalty of $250 in the case of a natural person and $1,000 in any other case may be imposed on
(1)  an authorized deposit institution
(a)  that, in contravention of section 28.19, fails to send the Authority a report on its complaint processing policy,
(b)  whose ethics committee, in contravention of section 28.51, fails to send the Authority a report on its activities,
(c)  that, in contravention of section 28.63, fails to notify the Authority of the end of the auditor’s term, or
(d)  that, in contravention of section 41, fails to furnish the Authority with a detailed return of its operations at the times determined by the regulations; or
(2)  an authorized deposit institution, the holder of control of the deposit institution, a member of its financial group, or its auditor, if it or he or she refuses to communicate or provide access to a document or information required by the Authority for the purposes of this Act.
The penalties prescribed by the first paragraph also apply if the information or documents concerned are incomplete, or are not sent before the specified time limit.
2018, c. 232018, c. 23, s. 385.