May 14, 2020
PACE Securities Corp., a subsidiary of PACE Savings & Credit Union Ltd. (the "Credit Union") which operates as an Ontario Securities Commission regulated investment fund manager and dealer regulated by the Investment Industry Regulatory Organization of Canada (“IIROC”), was placed in liquidation on May 14. In 2018, the Credit Union was placed under the administration of the Financial Services Regulatory Authority after financial irregularities were uncovered. On May 21, the IIROC suspended the company from its membership. EY was appointed liquidator. Goodmans is counsel to the company.