All Group Financial Services Inc.’s IIROC membership has been terminated, effective Aug. 1, following an IIROC hearing panel.

The firm is “expelled from IIROC,” an IIROC press release says, and its rights and privileges of membership have been terminated.

All Group Financial Services Inc. had been suspended since January 2017, the release says, after a protective order against the firm was granted. That order said the firm was required to take steps to transfer client accounts and cover all associated fees, and that it “cease dealing with the public, including removing any of its websites from public access, effective January 23, 2017.”

IIROC’s reasons for decision document from 2017 said All Group Financial Services Inc. had been “designated as ‘Early Warning Level 2’ since June 2015, and had been and remained capital deficient from January 3, 2017.” That document also notes the firm proposed to sell and transfer its client assets to Hampton Securities Limited, and that it planned to resign its membership once it also “complied with resignation prerequisites.”

To protect the public throughout that process, the document says, IIROC sought the suspension.

All Group Financial Services Inc. hasn’t been operating since the protective order was made, the press release says, and IIROC’s Aug. 1, 2018 termination decision says it held no client assets.