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Suspension lifted for Jory Capital

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The Manitoba Securities Commission has lifted the suspension of Jory Capital Inc. that had been imposed when the firm had failed to maintain sufficient capital and the firm is now in the process of restructuring.

Patrick Cooney, the founder and CEO of Jory said the firm intends to continue to offer independent advice but wants to get out from under the compliance burden that the firm has been subjected to after a track record of consistently bumping up against the regulatory thresholds.

Last month the Investment Industry Regulatory Organization of Canada (IIROC), which oversees all investment dealers in the country suspended the firm but a provincial securities commission panel lifted that suspension without yet providing written reasons.

Cooney said the details of the restructuring have not been finalized and the firm is holding an open house at the Caboto Centre on Wilkes Ave., Wednesday Nov. 28 at 6 p.m. to discuss the restructuring with its clients.

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