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Octagon Capital becomes latest small brokerage to shut down Add to ...

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Octagon Capital Corp. is the latest casualty of the malaise engulfing Bay Street brokerages.

The small Toronto-based independent broker and investment bank is being wound down and is expected to go out of business by the end of the year.

“We made a decision just to get out of the brokerage business,” John Palumbo, Octagon Capital’s chief executive officer, said in an interview.

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