February 27, 2017 / 7:32 PM / 5 months ago

Manulife says was unnamed bank fined by watchdog

1 Min Read

TORONTO, Feb 27 (Reuters) - Manulife Financial Corp said on Monday its banking subsidiary was fined by Canada's financial intelligence agency last year for what Manulife described as administrative lapses in reporting financial transactions.

The Financial Transactions and Reports Analysis Centre of Canada, known as Fintrac, last April fined an unnamed Canadian bank C$1.1 million ($837,000), the first time it had penalized an institution. ($1 = 1.3148 Canadian dollars) (Reporting by Matt Scuffham; Editing by Matthew Lewis)

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