October 10, 2013 Securities

Montréal - The Autorité des marchés financiers (AMF) has launched a penal proceeding against Robert Morin and laid 167 charges for various violations related to illegal distribution activities. If found guilty, Robert Morin will be liable to major fines and a prison term.

The AMF alleges that Robert Morin pursued illegal activities as a securities dealer, carried out distributions without a prospectus and made misrepresentations in respect of securities transactions. As well, the AMF alleges that he breached a decision of the Bureau de décision et de révision issued in May 2011.

The AMF investigation reveals that Robert Morin solicited former clients for the purpose of a loan to finance a number of projects in various industries. He thus betrayed the trust of investors in raising substantial funds. Robert Morin used to be registered in several sectors before being struck off the roll of the Chambre de sécurité financière This link will open in a new window in 2012.

Reminder to investors
The AMF reminds Quebeckers of the importance of adopting informed behaviours with respect to investments, in particular by not issuing cheques in the name of a person offering investments and never handing over cash payments. For more information on how to avoid fraud, see Your personal anti-fraud guide.

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

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