Already subject to penal proceedings for illegal practice - Order issued against Simon Déry

Decisions and Freeze and cease trade orders Securities

Montréal - On June 28, 2012, at the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision (Bureau) rendered a final decision confirming the cease-trade order issued against Simon Déry in March 2011.

The Bureau has prohibited Simon Déry from carrying on transactions in respect of any form of investment governed by the Securities Act, including activities as a securities dealer or adviser.

In its decision, the Bureau said: [Translation] "Simon Déry thus obtained loans for Groupe ADA and Hippocampe from at least fifteen investors, for amounts of approximately $123,000 and $425,000 respectively, for a total of close to $550,000."

This is not Simon Déry's first altercation with the AMF. In March 2012, Mr. Déry was found guilty of 14 charges for pursuing an illegal practice and aiding with illegal distributions of Groupe ADA and was fined $42,000. He is also facing another penal proceeding launched in February 2012 in the Hippocampe matter for similar violations.

Protect yourself against this type of approach

The AMF reminds investors of the importance of adopting healthy habits, in particular by asking five good questions (5 bonnes questions - in French only) to elude financial fraud.

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

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