Taurus Capital Markets Ltd. has officially abandoned the Toronto Stock Exchange.

On June 25, TSX Markets received confirmation that the final audit of Taurus Capital’s affairs had been completed. And, accordingly the TSX Markets approved its voluntary surrender, effective March 31.

Taurus also resigned from membership in the Investment Dealers Association, effective March 31.

In August 2000, the IDA fined the brokerage $30,000 for having poor internal controls.

Prior to March 8, 2000, Taurus Capital was a Type 4 introducing broker in an introducing broker/carrying broker relationship with Canada Trust Securities Inc. (CTSI). On March 8, Taurus repatriated its back office from CTSI.

Taurus experienced problems with the repatriation. The problems revolved around unsettled trades due to high volumes during the relevant time, lack of experienced staff, and inadequate preparation, planning and execution of the repatriation, resulting in unresolved differences.

Taurus was filing daily reports with the IDA indicating unresolved differences. Following final calculations, Taurus reported that unresolved differences rose to $2,622,000.