July 21, 2009 Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings against Réjeanne Pelletier, Guy Drouin and Laurent Beaudoin (not be be confused with the chairman of Bombardier), in the Court of Québec (Criminal and Penal Division), district of Québec City, and is seeking fines totalling $208,000.

The AMF filed 14 charges against Réjeanne Pelletier and is seeking $168,000 in fines for:

• acting as a securities dealer without being registered as such with the AMF, thereby violating sections 148 and 202 of the Securities Act (the "Act") (7 counts); and
• aiding, by act or omission, Gestion Nali inc., Gestion Lactée inc. and Club d'investissement G.P.S. SEC in making a distribution of a form of investment governed by the Act without a receipt for a prospectus from the AMF, thereby violating sections 11 and 202, with reference to sections 204 and 208 of the Act (7 counts).

The AMF filed one charge against both Guy Drouin and Laurent Beaudoin and is seeking $20,000 in fines from each of them for:

• aiding, by act or omission, Gestion Nali inc. and Gestion Lactée inc. in making a distribution of a form of investment governed by the Act without a receipt for a prospectus from the AMF, thereby violating sections 11 and 202, with reference to sections 204 and 208 of the Act.

The AMF is seeking fines that are four times the minimum penalty set out in the Act given the harm done to the victims and for general deterrence purposes and exemplary reasons.

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

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