Canaccord wins $7.4-million (U.S.) order against Vita
2026-02-17 20:42 ET - Street Wire
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by Mike Caswell
A judge in the Supreme Court of British Columbia has ordered Connecticut resident Nicholas Vita to pay a $7.4-million (U.S.) debt to Canaccord Genuity Corp. arising from a margin account that went into default. Mr. Vita unsuccessfully argued that the loan was invalid because it violated U.S. securities laws. He pointed out that U.S. securities laws prohibit foreign broker-dealers from granting credit to U.S. citizens.
The loss for Mr. Vita is contained in a decision handed down on Friday, Feb. 13. A judge has ordered Mr. Vita to repay the $7.4-million (U.S.), plus interest and legal fees. The findings were handed down summarily, or without a full trial.
The case arises from money that Mr. Vita borrowed while he was the chief executive officer of Columbia Care Inc., a cannabis listing that went public through Canaccord in April, 2019. In helping obtain a listing for Columbia Care, Canaccord established a business relationship with Mr. Vita. In 2019, Mr. Vita discussed using his shares of Columbia Care as collateral for a margin account with the firm.
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That's all fine and good winning but how does Canaccord collect the $ ?
Posted by sequential at 2026-02-18 11:34
A search for Nicholas Vita, returns
Nicholas Vita active positions
Companies Position Start
Columbia Care LLC Chief Executive Officer -
PHC Facilities, Inc. Chief Executive Officer
Nicholas Vita's Biography
Nicholas Vita co-founded and was the Company’s CEO from 2012 to 2024. Mr. Vita has over 25 years of experience serving in corporate leadership roles, investing capital, structuring and funding public/private partnerships and providing strategic advisory services to Fortune 500 companies throughout the U.S., Europe, Asia and Latin America. Prior to the Company, Mr. Vita was a Partner and served as the Chairman of the Investment Committee at Apelles Investment Management, LLC, a private investment management company focused on the healthcare and privatized military infrastructure sectors. Before Apelles, Mr. Vita was a General Partner, member of the Investment Committee and the Portfolio Manager for the Healthcare Sector at ARX Investment Management. Previously, he worked in the Investment Banking Division at Goldman Sachs Co. Inc. as an Analyst, Associate and Vice President in the Healthcare Department where he focused on mergers, raid defense and corporate finance. He is a graduate of Columbia College, Columbia University.
Source: The Cannabist Company Holdings Inc. on 07/10/2024
Cantor to acquire Canaccord Genuity Group’s U.S.-based Global Wholesale Market Making Business
New York, NY – April 1, 2025 – Cantor, a premier investment bank, today announced it has entered into a definitive agreement to acquire Canaccord Genuity Group’s U.S.-based wholesale market making business, which specializes in U.S. OTC wholesale market making, including global equities and ADRs. The addition of this highly complementary business will further support Cantor’s growth efforts and create strategic synergies across its Equities franchise.
Posted by halcrow at 2026-02-18 12:05