The Ontario District Council of the Investment Dealers Association has permanently suspended the rights and privileges of Thomson Kernaghan & Co. Ltd. as a member of the IDA.

This suspension makes permanent the temporary suspension order made on July 11. The IDA says Thomson Kernaghan is no longer able to maintain its risk adjusted capital at a level greater than zero. The association has determined that no reliance could be placed on any reporting by Thomson Kernaghan about their risk adjusted capital.

Trustee in bankruptcy Ernst and Young working to ensure the orderly transfer of all client accounts.