May 8, 2008 Decisions and Freeze and cease trade orders

Montréal – The Autorité des marchés financiers (AMF) handed down a decision on April 30, 2008 against Rimac Financial Inc. pursuant to section 115 of the Act respecting the distribution of financial products and services, R.S.Q. c. D-9.2.

Under the decision, Rimac Financial Inc. was fined $1,500 for failing to comply with section 11 of the Regulation respecting the trust accounts and financial resources of securities firms whereby it was required to file, with the AMF, a bimonthly report on net free capital set out in Appendix 1 on the accrual basis of accounting rather than on the cash basis of accounting.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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