Move comes after three failed trading orders lead to at least $85-million in potential losses
Regulators have issued a trading halt on Traynor Ridge Capital Inc., an investment fund manager that appears to be in serious financial difficulties after three failed trading orders.
In a release, the OSC said it is investigating the financial condition of the firm and the events surrounding a series of failed trades that have “potential losses” between $85-million to $95-million. Traynor Ridge is a Toronto-based alternative investment management firm that manages about $95-million in assets within three funds: TR1 Fund, TR1-I Fund and TR1 Fund LP. The company could not be immediately reached for comment on Tuesday.
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