Securities

Montréal – The Autorité des marchés financiers (AMF) has launched three penal proceedings in the Court of Québec (Criminal and Penal Division), district of Montréal, against P.R.A.T.I.C. 2000 Inc., Pascal Baril and  Forest.

As part of the proceedings against P.R.A.T.I.C. 2000 Inc. ("PRATIC"), the AMF filed 8 charges for violating the Securities Act (R.S.Q. c V-1.1) (the "Act") by making a distribution to investors of a form of investment governed by the Act, namely, an instrument, other than a bond, evidencing a loan of money issued by PRATIC, without a prospectus approved by the regulatory authority, thereby violating section 11 of the Act. The AMF is seeking a total fine of $40,000 plus costs with respect to these 8 charges.

Pascal Baril, a shareholder and director of Services Financiers JAPA Ltée ("JAPA") and PRATIC, faces 94 charges for violating the Act by:

  • aiding, by act or omission, JAPA and PRATIC in making a distribution to investors of a form of investment governed by the Act, namely, an instrument, other than a bond, evidencing a loan of money issued by JAPA and PRATIC, without a prospectus approved by the regulatory authority, thereby violating sections 11 and 208 of the Act (49 counts);
  • acting as a securities dealer without being registered with the regulatory authority, thereby violating section 148 of the Act (45 counts).

The AMF is seeking a total fine of $435,000 plus costs with respect to these 94 charges.

Lastly, the AMF filed 40 charges against Jacinthe Forest, a shareholder and director of JAPA and PRATIC, for violating the Act by:

  • aiding, by act or omission, JAPA and PRATIC in making a distribution to investors of a form of investment governed by the Act, namely, an instrument, other than a bond, evidencing a loan of money issued by JAPA and PRATIC, without a prospectus approved by the regulatory authority, thereby violating sections 11 and 208 of the Act (20 counts);
  • acting as a securities dealer without being registered with the regulatory authority, thereby violating section 148 of the Act (20 counts).

The AMF is seeking a total fine of $180,000 plus costs with respect to these 40 charges.

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

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