The Ontario District Council of the Investment Dealers Association has finally kicked out Essex Capital Management Ltd.

The IDA reports that its Ontario council approved termination of Essex’s membership, effective August 15. The firm’s operations were suspended by the IDA in March 2000 following the freezing of their assets by the Financial Services Commission of Ontario.

The firm was put into receivership following the appointment of a joint receiver for Essex and Nelbar Financial Corp. (the parent company). The Canadian Investor Protection Fund has since been dealing with claims related to the insolvency of Essex.