HSBC Securities settled with the Investment Dealers Association of Canada Wednesday for market timing 14 mutual funds more than 800 times for one client between Jan. 1, 2002 and July 1, 2002.  HSBC Canada agreed to pay $1,163,192 as part of the settlement.

During that time, HSBC ignored numerous warnings from the fund companies about how the market timing was in violation of their prospectuses and upsetting management of their portfolios to the detriment of long-term shareholders, according to regulators.

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