True or False: A maximum fine for non-compliance with the Code of Ethics is $10,000.

The statement is false because the maximum fine for non-compliance with the Code of Ethics can exceed $10,000. The penalties for violating the Code of Ethics are outlined by the Ontario Motor Vehicle Industry Council (OMVIC), and the financial repercussions can vary based on the severity of the violation and other circumstances surrounding the case. In serious instances of ethical violations, fines could be significantly higher than $10,000, reflecting the importance of maintaining ethical standards in the automotive sales industry. This emphasizes the need for compliance with the Code of Ethics to protect both consumers and the integrity of the industry.