The Globe and Mail reports in its Tuesday edition that the Ontario Securities Commission is probing Emerge Canada even after the troubled investment manager shut down all its retail funds. A triple-bylined item led by David Milstead says that OSC chief executive officer Grant Vingoe described the case as an "active investigation," but did not elaborate on the issues under review or the timing for completion. "It was a unique event in the history of ETFs that we would take the action that we did and actually cause this type of freeze to be instituted -- now that investigation has to take its course," Mr. Vingoe said. "I do understand the frustration for holders of the Emerge units as that unfolds." On April 14, 2023, the OSC imposed a temporary cease trade order on the company's 11 exchange-traded funds because the funds were unable to file audited financial statements after auditor BDO Canada LLP resigned. Last May, the OSC suspended Emerge Canada's operating licence, after the amount owed to its Emerge ARK funds had increased to $5.5-million from an earlier figure of $2.53-million. Emerge Canada sold all the investments in its ETFs last October and terminated them by Dec. 29, but still owed money to fund unitholders.