Distribution without a prospectusAlain Laroche and 9175-3178 Québec inc. fined $82,000
Securities Decisions and Freeze and cease trade orders
Montréal - On January 13, 2016, Judge Chantale Pelletier of the Court of Québec, district of Québec-Chaudière-Appalaches, ordered Alain LarocheThe respondent Alain Laroche should not be confused with Alain Laroche, who holds certificate 119520 in insurance of persons and group insurance of persons and is attached to the firm Alain Laroche Assurances Inc., and is registered as a mutual fund dealing representative with Hub Capital Inc. and the firm 9175-3178 Québec inc. to pay fines of $47,000 and $35,000 respectively.
Alain Laroche pleaded guilty to 11 charges of aiding with a distribution without a prospectus, making misrepresentations and stating that securities would be listed on an exchange. The firm 9175-3178 Québec inc. has also been charged with making distributions without a prospectus on seven occasions.
This decision is further to the penal proceedings launched by the AMF in 2013. In 2012, the Investment Industry Regulatory Organization of Canada (IIROC) entered into a settlement agreement with Alain Laroche This link will open in a new window under which he was suspended and fined $20,000.
Nathalie Belleau, who was charged with seven counts of aiding 9175-3178 Québec inc. with distributions without a prospectus, was acquitted on all counts.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
- 30 -
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
Twitter: @lautorite This link will open in a new window