Penson couldn't sell Canada. They inked a deal with Fidelity Canada to refer their remaining clients to Fido. Terms not disclosed, but you should assume there will be a small earn-out/successful referral fee. I would guess that Penson will be reporting a $10MM or so loss on the closing of Penson Canada. The fact that they didn't even issuer a presser in the US tells you how out of the money Penson common is.