March 31, 2008 Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division), district of Laval, against Simon Déry, President of 9122-1341 Québec, which operates under the name Groupe ADA.

As part of the proceedings, the AMF filed 18 charges against Simon Déry for violating the Securities Act, R.S.Q. c V-1.1 (the "Act"):

• by aiding, by act or omission, 9122-1341 Québec, which operates under the name Groupe ADA, in making a distribution of a form of investment governed by the Act, namely, debt securities, without a prospectus approved by the AMF, thereby violating section 11 of the Act (9 counts);
• by acting as a securities dealer without being registered with the AMF, thereby violating section 148 of the Act (9 counts).

The AMF is seeking a total fine of $54,000 plus costs.

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

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