Rampart Mercantile Inc., the parent company of Rampart Securities Inc., wishes to clarify that the imposition of Early Warning Level 2 on its business by the Investment Dealers Association does not put any restrictions on its business.

“Rampart wishes to state that currently there are no limitations on the business of [Rampart Securities] arising out of the designation of Early Warning Level 2.” It says that no limitations will now be applied to its’ business until the matter has been fully considered by the IDA’s Ontario District Council in a hearing with submissions made by both sides.

The IDA is set to hear the allegations against Rampart on August 15. In the interim, it continues to carry on business as usual.

Yesterday, its prospective merger partner, BayStreetDirect.com Inc., called off its proposed deal with the firm, citing the recent allegations from the IDA as its reason.