Decisions and Freeze and cease trade orders Securities
Montréal – On October 18, 2004, the securities decision and review board known as the Bureau de décision et de révision en valeurs mobilières (BDRVM) lifted the freeze order issued by the Québec Securities Commission on October 1, 2002, against TIP Funds Canada Ltd. The order had been renewed, most recently on August 4, 2004.
The request to lift the freeze order was made to the BDRVM by Claude Gilbert, the provisional administrator appointed by the Minister of Finance. As well, the BDRVM allowed the administrator to take possession of the funds on deposit in the accounts covered by the freeze order.
To read the press releases on this matter issued to date, please consult the AMF website under Media Centre/Press Releases.
Created under the Act respecting the Agence nationale d'encadrement du secteur financier, the Bureau de décision et de révision en valeurs mobilières (BDRVM) is a tribunal which exercises certain powers prescribed by the Securities Act. The BDRVM is independent of the AMF.
Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l'assurancedépôts du Québec, the Fonds d'indemnisation des services financiers and the Inspector General of Financial Institutions
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For More Information:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then dial 2 for consumers
- The Commission des valeurs mobilières du Québec renders a decision in the matter concerning TIP Investment Advisors Ltd. and Paul Gagné
- Hearing to determine measure to be taken against TIP Investment Advisors Ltd. & Paul Gagné is postponed
- Hearing to determine the measure to be imposed upon TIP Investment Advisors Ltd. & Paul Gagné is again postponed
- TIP Investment Advisors Ltd. & Paul Gagné suspended for five years
- Freeze order against TIP Funds Canada Ltd. is renewed
- Service of BDRVM decision
- Recommendation to wind up property of TIP Funds Canada and appoint a liquidator
- Registrations withdrawn for Paul Gagné and Tip Investment Advisors Ltd