Montreal – Following a bankruptcy petition filed by the Québec Department of Revenue in respect of Vincent Lacroix, the Autorité des marchés financiers (AMF) wishes to stress that every effort will be made to protect the interests of investors.
The AMF will closely monitor each step in the bankruptcy process. If necessary, it will intervene with the Department of Revenue to uphold the interests of investors.
The appointment of Ernst & Young as trustee in the matter of the bankruptcy of Vincent Lacroix also ensures that any information about the possible misappropriation of funds from the Norbourg and Evolution family of funds for the benefit of Vincent Lacroix will be taken into account. Ernst & Young, through Richard Messier, is acting as provisional administrator of the Norbourg and Evolution funds.
These measures are in line with the recent actions taken by the AMF to recover investors’ funds.
The AMF will take other measures shortly as part of its recourse on behalf of investors. The AMF is pursuing its investigation to determine whether penal proceedings are warranted. Because of the substance of the allegations, the AMF is also co-operating with the Integrated Market Enforcement Team (IMET) of Montréal, which has undertaken a criminal investigation in this matter. The purpose of the investigation is to validate the allegations, identify the perpetrators in the matter and determine whether legal proceedings should be launched against them.
The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.
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Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then choose option 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then choose option 2 for consumers
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