Cease trade order against Amyot, Lafrenière, Immobiliar Gestion financière and la Financière The-Force lifted
Decisions and Freeze and cease trade orders Securities
Montréal – In a decision handed down on May 29, 2008, the Bureau de décision et de révision en valeurs mobilières (BDRVM) acknowledged the agreement entered into between the Autorité des marchés financiers (AMF) and Immobiliar Gestion Financière (6607594 Canada inc.) and La Financière The-Force (4056589 Canada inc.) whereby eight Québec investors have been reimbursed a total of $224,649.66 in capital and interest.
As stated in the BDRVM decision, further to the cease trade order obtained by the AMF in November 2007, the respondents promptly recognized their error, ceased any activity governed by the Securities Act (the "Act") and undertook to reimburse investors. It was within this context that the AMF reached an agreement with the respondents that was approved by the BDRVM.
Under the agreement, the respondents paid a fine in the amount of $5,000 to the AMF, in addition to reimbursing the eight investors for their total investment in capital and interest. Moreover, the agreement stipulates that La Financière The-Force was not involved in the investments at issue.
On June 6, 2008, the BDRVM therefore lifted the cease trade order after noting that the investors had been reimbursed since its decision of May 29 and acknowledging the commitments made by the respondents to comply with the Act and further to the approval given by the AMF for the lifting of the cease trade order in this matter.
In November 2007, the BDRVM issued an order, at the request of the AMF, against Monique Beaudin Amyot, Léo Lafrenière as well as Immobiliar Gestion Financière and Financière The-Force to cease carrying on any activity in respect of any transaction in securities governed by the Act, including any activity as a securities dealer.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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