The Investment Industry Regulatory Organization of Canada (IIROC) has given its blessing to the marriage of boutique brokerage firms, Mackie Research Capital Corp. and Jennings Capital Inc.
IIROC said Tuesday it has approved the amalgamation of Toronto’s Mackie and Calgary’s Jennings Capital.
The combined firm will take the Mackie name and Jennings will surrender its membership in the self-regulatory organization.
The combination officially took effect on Dec. 1, and Jennings indicates in a statement on its website that its clients’ accounts will be transferred to Mackie from its clearing firm, NBCN Inc., on Dec. 20.
The deal, which was announced back on Oct. 31, brings together the Jennings, a retail and investment banking firm with a focus on the energy, mining, tech and healthcare sectors; with Mackie, an employee-owned, full-service firm, which was created by the merger of Research Capital Corp. with a Calgary-based investment boutique, J.F.Mackie & Company Ltd. in 2009.