(August 2 – 10:00 ET) – The Investment Dealers Association says penny stock dealer A.C. MacPherson & Co. Inc. has resigned from the IDA.

The move comes on the heels of a push by the Ontario Securities Commission to shut down boiler room brokerages. A.C. MacPherson settled with the commission in the spring, agreeing to wind up its operations and transfer clients to other dealers. Its registration was suspended on July 5.

Yesterday the OSC announced a hearing set for August 3 to consider a settlement of allegations against Price Warner Securities Ltd. and its principals Ian Rolin and Lorne Rolin.

Last week it announced allegations and a settlement against Gordon-Daly Grenadier Securities and its principals. A hearing is set for August 9 to consider the settlement.
-IE Staff