The small investment dealer, which is selling most of its business to Hampton Securities, must cease dealing with the public as of Jan. 23
The SRO is seeking to suspend introducing broker, which became capital deficient on Jan. 3 and subsequently sold its business to Hampton Financial
This is the second time that the SRO has extended the comment period on proposed new guidance regarding discount brokers
The SRO has laid out its priorities for 2017 in a notice published on Thursday
The SRO has granted exemptions to 24 firms for which the annual cost and performance reporting requirements are redundant or unnecessary
The defunct investment dealer has been expelled from IIROC membership
The self-regulatory organization will be seeking volunteers to take part in the test, which will coincide with a similar exercise in the U.S.
Jeffrey Edward Gebert borrowed more than $500,000 from his wife’s 93-year-old grandfather, also his client, without disclosing the arrangement
Firms had said the existing approach is too prescriptive and outdated and it should be altered to accommodate changes in current market structure
The added time comes in response to requests from the industry seeking additional time to consider and comment on the guidance