Montréal, May 25, 2011 - On May 10, 2011, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision (the Bureau) issued freeze and cease trade orders, and orders to cease acting as a securities dealer or adviser in relation to the activities of Robert Morin1 and Roger Éthier.

More specifically, the Bureau ordered Robert Morin, Roger Éthier, Incase Finance Inc. and Vivre-Entreprise en soins de santé inc. to cease carrying on transactions in any form of investment, including activities as a securities dealer or adviser. The Bureau also ordered them not to dispose of the funds, securities or other assets in their possession.

The Bureau also ordered Vivre-Entreprise en soins de santé inc., Gestion M.E.R.R. inc., Les Résidences Desjardins (St-Sauveur) inc., Bilodeau Spécialiste en chaussures inc. and Pantero Technologies Inc., all companies related to Robert Morin and Roger Éthier, not to dispose of funds, securities or other assets in their possession that belong to Robert Morin, Roger Éthier or Incase Finance Inc.

The Chambre de la sécurité financière has also begun proceedings to temporarily revoke the registration of Robert Morin as a representative in group insurance of persons and in insurance of persons, as well as a financial planner and a mutual fund representative. It also filed a disciplinary complaint against Robert Morin.

In its request, the AMF asked for timely intervention by the Bureau to protect depositors and the public because it is concerned that the respondents will continue with additional distributions in violation of the Securities Act.

In its decision, the Bureau mentioned the following allegations and facts as presented by the AMF:

  • The respondents were acting as securities advisers or dealers without being registered as such with the AMF and were making distributions without a prospectus or prospectus exemption.
  • Investors did not receive all of the relevant and necessary information to make an informed investment decision and some investors did not know exactly where the money was invested.
  • Over one hundred investors were involved and according to the investigation conducted so far in connection with 37 investors, approximately $2.1 million in investments have not matured.
  • According to the AMF's investigation to date, there is concern that the respondents do not have the funds necessary to repay the loans granted when they mature.
  • According to an analysis of the banking data to date, it is feared that Mr. Morin will use a portion of the funds invested by investors for personal purposes.

The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial industry.

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1 Respondent Robert Morin should not be confused with Robert Morin, damage insurance broker attached to 2529-4711 Québec inc. in Napierville, holder of certificate No. 124513.