Cathie Wood-Linked ETF Firm Is Shut Down by Canada Regulator
- Toronto-based firm owes funds millions and can’t pay
- Funds have been under trading ban after auditor quit
Cathie Wood
Photographer: Hugo Amaral/SOPA Images/LightRocket/Getty ImagesOntario’s securities watchdog suspended the registration of Emerge Canada Inc., an investment firm known for selling Toronto-listed versions of Cathie Wood’s popular exchange-traded funds.
The Ontario Securities Commission said the firm has failed to comply with its capital requirements since at least September and ordered it to wind down, or find another company to take over its activities. Emerge Canada is banned from being an investment fund manager, portfolio manager or exempt-market dealer, according to an order from the OSC’s director of compliance and registrant regulation.