- The Ontario Securities Commission said it had issued a cease trade order to hedge fund manager Traynor Ridge Capital Inc following the death of its founder, and three failed trading orders last week.
CIBC World Markets Inc., a subsidiary of Canadian Imperial Bank of Commerce, was Traynor's prime broker and has terminated its service agreement with Traynor because the firm had stopped responding, the OSC said.Traynor is a Toronto-based alternative investment management firm, according to its website, and manages three prospectus-exempt funds known as the TR1 Funds.The firm and one of Callahan's colleagues listed on its website did not immediately respond to requests for comment.
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