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Signage outside the Home Capital Group Inc. headquarters office in Toronto, Ontario, Canada, on Thursday, May 4, 2017. (Cole Burston/Bloomberg)
Signage outside the Home Capital Group Inc. headquarters office in Toronto, Ontario, Canada, on Thursday, May 4, 2017. (Cole Burston/Bloomberg)

Home Capital settles with OSC, will pay $10-million penalty Add to ...

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Home Capital Group Inc. has reached agreements to settle an enforcement case with Ontario’s securities regulator as well as a class action lawsuit launched over allegations of misleading disclosure.

Under a pair of linked agreements, Home Capital and three former senior executives will pay a total of $12-million in penalties to the Ontario Securities Commission and accept responsibility for misleading disclosures to investors about mortgage underwriting problems in 2014 and 2015. About $11-million of those funds will go toward a $29.5-million payment to settle the class action suit.

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