TORONTO (CP) -- The regulatory body, known as IIROC, said in a release late Wednesday that it will be working with Evergreen to ensure its clients have access to their accounts and for the "orderly wind-down of the firm's operations."
Evergreen was founded in 2006 by former Northern Securities employees Adam Adamou, Trevor Conway and Paul Reid.
It has about a dozen staff in offices in Calgary and Toronto and focuses on the mining, metals and oil and gas industries, which have suffered in recent months from falling commodity prices.
Evergreen's website lists such recent deals as; a $12 million syndicate with Reece Energy Exploration Corp (RXR) in August, a $10 million syndicate with Nayarit Gold Inc (NYG) in July and a $10 million syndicate with Queenston Mining (QMI) in March.
The brokerage industry has been hit hard in recent months by the global credit crunch and subsequent market meltdown.
Evergreen was granted membership into IIROC in January 2007. It is also a member of the Canadian Investor Protection Fund (CIPF) and the Investment Industry Association of Canada (IIAC).
Officials at Evergreen could not immediately be reached for comment.
(c) The Canadian Press