February 7, 2017 Securities

Montréal – The Autorité des marchés financiers (the “AMF”) has launched penal proceedings in the judicial district of Québec City against David Tran, Steven Dubois and Logiciels HFT Quants inc. (“HFT”). A total of 37 charges related to illegal distribution activities were filed.

Specifically, David Tran faces 28 counts, including 12 counts of attempting to hinder an AMF representative in the exercise of his or her functions in the course of an investigation, six counts of illegal practice as a securities dealer, six counts of aiding in making a distribution without a prospectus and four counts of providing false documents or information to an AMF representative in the course of an investigation.

Steven Dubois faces one count of attempting to hinder an AMF representative in the exercise of his or her functions in the course of an investigation and one count of providing false documents or information to an AMF representative in the course of an investigation.

Lastly, HFT faces seven counts of making a distribution without a prospectus.

In connection with this matter, Jacques Paquin faced one count of illegal practice as a securities dealer and one count of aiding in making a distribution without a prospectus. On August 9, 2016, Jacques Paquin pleaded guilty to these two charges and was fined a total of $7,000.

David Tran, Jacques Paquin and HFT have been subject to freeze and cease trade orders since May 2015.

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

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Information:

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Sylvain Théberge: 514-940-2176

Information Centre:
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Toll-free: 1-877-525-0337
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Additional news

• May 4, 2017 Matter of Tran et al. (2015-014-010) - Service of decision by the Tribunal administratif des marchés financiers
• April 10, 2017 Matter of Tran et al. - Service of notice of presentation
• December 20, 2016 Matter of Tran et al. - Service of decision by the Tribunal administratif des marchés financiers
• November 25, 2016 Matter of Tran et al. - Service of notice of presentation
• September 13, 2016 Service of Decision by Tribunal Administratif des Marchés Financiers
• August 11, 2016 Matter of Tran et al. - Service of notice of presentation
• May 13, 2016 Service of Decision by Bureau - David Tran and Logiciels HFT Quants inc.
• May 11, 2016 Matter of Tran et al. - Service of notice of presentation
• January 14, 2016 Service of Bureau Decision - David Tran and Logiciels HFT Quants inc.
• December 7, 2015 Matter of Tran et al. - Service of notice of presentation
• September 21, 2015 Service of Bureau Decision in respect of David Tran and Logiciels HFT Quants inc.
• August 21, 2015 Matter of Tran et al. - Service of notice of presentation
• July 20, 2015 Freeze and cease trade orders against David Tran, Jacques Paquin and Logiciels HFT Quants inc.