Regulators have granted IPC Securities Corp. a reprieve, giving it until the end of the year to join the Investment Dealers Association.

The firm is currently registered as a securities dealer and is required to join either the IDA or the Mutual Fund Dealers Association prior to its registration renewal of August 13. However, the firm has received an exemption until January 1, 2002, to allow it to reorganize its business.

IPC’s parent company, IPC Financial Network Inc. acquired Equisure Securities Ltd., an IDA member, in July 2001. And the firm says that Equisure is expected to amalgamate with IPC by November 30. After that, it will carry on business as IPC, and IPC’s accounts will be transferred to the merged firm, which will be a member of the IDA.

The amalgamation of Equisure and IPC is expected to be final by November 30, and certainly by December 31. So, the OSC ruled it would not be prejudicial to the public interest to grant the extension.