The appellant appealed an order imposing $46,500 in summary administrative penalties for failing to file its pension plan's Annual Information Return and Financial Statements on time.
The filings were 215 days late.
The Financial Services Tribunal found that the appellant had a history of late filings and had ignored multiple warnings from the regulator.
The Tribunal confirmed the order, holding that the penalties were properly calculated under the prescribed regulations and were appropriate to promote compliance with the Pension Benefits Act.
