The Globe and Mail reports in its Friday edition that Ontario's securities watchdog has suspended the registration of asset manager Emerge Canada Inc. after finding it failed to comply with working capital requirements, and the regulator expects the manager to wind down its funds. The Globe's Clare O'Hara and David Milstead write that the Ontario Securities Commission has suspended exchange-traded-funds provider Emerge Canada from being an investment fund manager, a portfolio manager and an exempt market dealer after finding the company is essentially insolvent. The OSC says Emerge Canada's U.S. parent owes its Canadian subsidiary millions of dollars that the subsidiary has failed to collect. The commission says Emerge Canada cannot count that money owed as part of its working capital. In turn, Emerge Canada owes $5.5-million to its own ETFs. In its decision, the OSC said that before that suspension takes effect, it has imposed interim terms and conditions to restrict Emerge Canada from conducting any registrable activities. Unknown is what impact this will have on Emerge Canada investors. The group of investment funds is linked to celebrity U.S. investor and ARK Investment Management LLC boss Cathie Wood.