The OSC and CI Financial: Turning an $8M payment into a $156M settlement – FINANCIAL NEWS-ecozik.com
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The OSC and CI Financial: Turning an $8M payment into a $156M settlement

Did the Ontario Securities Commission overplay its hand when it told everyone around you that it had garnered “the largest quantity of investor compensation to date within an OSC no-contest”?

Last week the OSC said it has reached a “no-contest settlement with CI Investments Inc.,” noting the “settlement involves approximately $156.A million being returned to harmed investors.”

By any measure that’s a big number however it should be pointed out that neither the general public company (CI Financial) nor the manager (CI Investments) is paying one penny of the $156.1 million “settlement.”

Instead the instalments – which are being made because investors bought and sold units in seven affected funds in an underestimated net asset value (NAV) – will come in the funds themselves.

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