Decisions and Freeze and cease trade orders Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division), district of Saint-Hyacinthe, against Yves Dion.

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

  • by making a distribution of a form of investment governed by the Act, namely, an investment contract, without a prospectus approved by the regulatory authority, thereby violating section 11 of the Act (9 counts);
  • by acting as a securities dealer without being registered as such with the regulatory authority, thereby violating section 148 of the Act (9 counts).

For exemplary reasons and as a deterrent, the AMF is seeking a total fine of $525,000 plus costs, which is nearly ten times the minimum fine, due to the severity of the offences, which were committed intentionally, and the harm caused to the victims.

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

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