(May 4 – 09:50 ET) – The Ontario District Council of the Investment Dealers Association of Canada has suspended A.C. MacPherson & Co. Inc.

In April, the Ontario Securities Commission issued an order prohibiting A.C. MacPherson & Co. Inc. from acting as principal in the sale of any securities to or by a client. The order also limited the firm’s activities to the orderly wind-up of its business and affairs, including the return of all clients’ securities and free credit balances, or the transfer of such securities or free credit balances to another member of the IDA.

A.C. MacPherson & Co. Inc. is required to cease carrying on business as an investment dealer as of July 5, 2000. As a result, the Investment Dealers Association has suspended A.C. MacPherson & Co. Inc. effective May 1, except to the extent as may be necessary carry out the Ontario Securities Commission order.
-IE Staff