Montréal – The Autorité des marchés financiers (AMF) has launched a penal proceeding in the Court of Québec (Criminal and Penal Division), district of Montréal, against Jacques Trottier for failing to report, within 10 days of the event, changes in his control over the securities of a reporting issuer, namely, Exploration Sulliden Inc., in respect of which he is an insider.
Mr. Trottier faces 32 charges for violations committed in 2004 and 2005 under section 97 of the Québec Securities Act, with reference to section 174 of the Securities Regulation. The AMF is seeking a fine in the amount of $64,000 plus costs, which is double the minimum amount prescribed under the law.
Insiders are required to report, within 10 days of the event, any change in their control of the securities of a reporting issuer via the System for Electronic Disclosure by Insiders (SEDI) at www.sedi.ca This link will open in a new window, thereby giving all investors access to the information within a reasonable time period.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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Frédéric Alberro (514) 940-2176
Québec City: 418-525-0337