Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings in the judicial district of Montréal and is seeking an order prohibiting François SimardThe respondent François Simard should not be confused with François Simard (No. 130927), who holds a certificate as an independent representative in the insurance of persons sector and is also registered as a dealing representative with Scotia Capital Inc., François Simard (No. 135588), who holds a certificate in the claims adjustment sector with Desjardins General Insurance Inc., and François Simard (No. 175008), who holds a certificate in the financial planning sector and is registered as a dealing representative (mutual fund dealer), with Desjardins Financial Services Firm Inc. from trading in securities. It claims that Mr. Simard acted illegally as an intermediary in connection with the sale of securities of mining companies without holding a certificate allowing him to do so.
The AMF has filed a statement of offence which includes six charges against François Simard for illegal practice as a dealer and aiding with a distribution without a prospectus. He faces a total minimum fine of $15,000.
In the public interest, the AMF will also ask the Bureau de décision et de révision ("Bureau") to order François Simard to cease conducting any activity in respect of a transaction in securities, directly or indirectly, for any person other than himself.
François Simard was the subject of another penal proceeding launched by the AMF in 2013 for similar activities. His trial is scheduled to begin in October 2015.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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