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OSC signs off on Home Capital settlement

The Ontario Securities Commission has approved its proposed C$12 million settlement with Home Capital Group Inc.

Details of their accord were made public in June, including the requirement that Toronto-based Home Capital also secure court approval for the separate settlement of a class-action lawsuit. The hearing for court approval is Aug. 21.

Both the regulatory proceedings and the lawsuit are in connection with allegations of misleading disclosures following the disclosure that mortgage brokers had falsified loan information.