An Investment Industry Regulatory Organization of Canada hearing panel has granted a protective order suspending a small, Toronto-based investment dealer, All Group Financial Services Inc., which is in the process of selling most of its business.

Following a hearing on Jan. 18, the IIROC hearing panel issued an order suspending All Group effective Jan. 23 and imposed several conditions on the firm.

All Group must cease dealing with the public as of Jan. 23, preserve its records and comply with restrictions on its capital, along with other measures the self-regulatory organization has imposed.

According to IIROC, the firm is in the process of selling its client assets and transferring its advisors to Hampton Securities Ltd. That process is to be completed by Friday.

See: Hampton Financial acquires All Group Financial Services

“For greater certainty, All Group shall continue to service its existing clients until the transfer of its client accounts is completed on or before Jan. 20,” IIROC’s order says.

Any remaining accounts as of Jan. 23 are to be transferred to Fidelity Clearing Canada ULC, which is the firm’s clearing broker.