Securities

Montréal – The Autorité des marchés financiers has launched penal proceedings against Martin Tremblay (insurance of persons representative) in the Court of Québec (Criminal and Penal Division), district of Montréal, and is seeking fines totaling $48,000.

The AMF filed 8 charges against Martin Tremblay, who held a representative's certificate (No. 149830) in insurance of persons, group insurance of persons and group savings plans between March 2002 and August 2008, for violating the Securities Act (the "Act"):

  • by acting as a securities dealer without being registered with the regulatory authority, thereby violating section 148 of the Act (4 counts);
  • by making a distribution of a form of investment governed by the Act, namely, an investment contract, without a receipt for a prospectus from the regulatory authority, thereby violating section 11 of the Act (4 counts).

The fines sought are double the minimum fine set out in the Act. The amount was determined owing to the objective seriousness of the offence, in particular given the losses incurred by investors, and the fact that the offences were committed by a financial market professional.

Please note that this suit is not in any way related to the matter of Martin Tremblay and Dominion Investment. It is not the same individual.

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

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