Montréal - The Autorité des marchés financiers (the "AMF") announced that it has filed proceedings before the Bureau de décision et de révision (BDR) for allegations of transactions based on privileged information and is seeking administrative penalties totalling $96,700.

These proceedings concern the purchase of units, while in possession of privileged information, in the Advanced Fiber Technologies (AFT) Income Fund, and the subsequent sale of the units by Renée RoyRespondent Renée Roy should not be confused with Renée Roy, holder of certificate number 195016, of the firm Lussier Cabinet d'assurances et services financiers inc. in Lévis, who is not the subject of these proceedings., an AFT Fund employee.

The AMF alleges that Renée Roy traded these units based on privileged information not known to the public, which had been transmitted to her by Jean-Pierre LavalléeRespondent Jean-Pierre Lavallée should not be confused with Jean-Pierre Lavallée, holder of certificate number 119907, of the firm Assurances Lavallée & Associés ltée in St-Laurent, who is not the subject of these proceedings., an AFT Fund insider. The information concerned the potential sale of the company to a Japanese client.

The AMF is seeking a penalty of $91,700 against Renée Roy--three times the gains realized from the transactions and $5,000 against Jean-Pierre Lavallée.

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

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