Canada's mutual fund self-regulatory body, the Mutual Fund Dealers Association (MFDA), is investigating if sales agents at certain firms, including Manulife Securities International Ltd. and the Berkshire Group of Companies, sent clients to Portus Alternative Asset Management Inc., a hedge fund under scrutiny by Canadian regulators, according to The Globe and Mail.

The Ontario Securities Commission alleges that Portus, the fastest-growing Canadian hedge fund with an estimated $20 million in new investment funds coming in each week, violated a number of securities laws. To that end, last week, regulators placed a two-week ban on Portus forbidding it from recruiting new clients or receiving more money for existing accounts.

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