Troubled boutique investment dealer terminated by regulator

Troubled boutique investment dealer terminated by regulator

Troubled boutique investment dealer terminated by regulator The Investment Industry Regulatory Organization of Canada (IIROC) said Tuesday it has terminated the membership of Toronto-based Edgecrest Capital.
 
IIROC suspended the boutique investment house in September, after the firm was unable to address a growing capital shortfall.
 
Edgecrest joined IIROC in September 2013, and was headed up by David Beatty, chairman and CEO. In 2014 it acquired Toronto's Stonecap Securities in an effort to build scale but a prolonged bear market in mining and energy forced the company to lay off staff as regulatory sanctions increased and capital dwindled.
 
IIROC said the termination order is effective immediately.
 
1 Comments
  • cctv 2016-03-24 6:15:29 AM
    Really good information and knowledge base analyzing statics. Given Details and Publishing web view modules, good systems images and so many details I liked this blog. Web patients are everyone share this page in our Social Accounts. Thanks by Esync-Chennai.
    Post a reply