Le Lézard
Classified in: Business
Subject: LAW

OSC issues temporary cease trade order against Traynor Ridge Capital, imposes terms and conditions on registration


TORONTO, Oct. 30, 2023 /CNW/ - The Ontario Securities Commission (OSC) today issued a temporary order against Traynor Ridge Capital Inc., an Ontario registrant that manages three prospectus-exempt funds (the TR1 Funds).

The OSC is investigating the financial condition of the firm and the events surrounding a series of failed trades.   

The temporary order issued today imposes terms and conditions on Traynor Ridge Capital's registration as an exempt market dealer, portfolio manager and investment fund manager. The order also prohibits all trading in any securities by or of the firm and in the securities of the TR1 Funds.  

Clients of Traynor Ridge Capital or holders of securities of the TR1 Funds should consult with their registered investment advisor about the status of their investments or contact the OSC's Inquiries and Contact Centre at 1-877-785-1555 or [email protected].

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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SOURCE Ontario Securities Commission


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