Investor Warnings Securities

Montréal – The Autorité des marchés financiers (AMF) is urging investors to be cautious about Larroque Asset Management and André Sigouin. They are not registered as securities dealers or advisers with the AMF, and the investments they are promoting have not received the necessary approvals from the AMF.

It appears that André Sigouin has approached dealers with unrestricted practices asking them to promote investments in exchange for a share of the commissions. The investments are European bonds on which Mr. Sigouin is promising exaggerated annual returns of 12% to 30%. He claims that they are secured by U.S. Treasury bills. Mr. Sigouin purports to be acting for the European firm Larroque Asset Management, yet no address appears on the company's website.

The investments Mr. Sigouin is promoting have not received the necessary authorizations from the AMF, namely, a receipt acknowledging the filing of a prospectus. Although Mr. Sigouin has stated that a proper prospectus will be available soon, no document appears to have been filed with the AMF.

While to date Mr. Sigouin may have only solicited market intermediaries, the AMF wishes to remind the public that Mr. Sigouin and Larroque Asset Management are not registered with the AMF as securities dealers or advisers. Consequently, they may not make distributions directly to investors.

The AMF also reminds investors that they should always ensure that the firms and individuals offering investments have the necessary approvals from the AMF. "Investors should be very cautious when promised exceptional returns," said Anne-Marie Poitras, Superintendent, AMF Client Services and Compensation. "They should be wary of anyone offering an investment who cannot provide a prospectus. The investment may be very risky and impossible to resell," she added.

Ms. Poitras offers investors the following advice:

  • Contact the AMF Information Centre to make sure that the firm is authorized to distribute investments to the public and that the representative recommending the investment is licensed to practice in Québec;
  • Don't invest if the prospectus or financial statements are not available, even if you're promised that they will be "available soon"
  • Ask for written confirmation of any information given to you verbally, and research the companies in which you want to invest;
  • Find out about the firm's history, activities, assets, members of management, potential risk factors and how the money raised will be used;
  • Be suspicious when strangers promise you returns that seem too good to be true.

For further information, consult the AMF brochure Watch out for securities fraud, available on our website. This brochure will help you recognize various types of illegal activity and give you a few tips to help you be on the lookout for con artists.

If you believe you have been the victim of an illegal distribution, contact the AMF Information Centre.

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

— 30 —

Information:

Media only:
Frédéric Alberro (514) 940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337