Decisions and Freeze and cease trade orders Securities
Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (securities decision and review board, or BDRVM) issued a cease trade order on May 4, 2007 against G.I.S.P. Aideauxfamilles.com, G.I.S.P. Aid4families.com, Earl Mattews et Reyanne Briand.
The AMF took action based on the following allegations:
- G.I.S.P. Aideauxfamilles.com, G.I.S.P. Aid4families.com, Earl Mattews and Reyanne Briand distributed in Québec and abroad from a Québec-based office a form of investment governed by the Securities Act (the “Act”), namely, the Programme G.I.S.P., via a website at Aid4families.com without holding a prospectus approved by the AMF;
- G.I.S.P. Aideauxfamilles.com, G.I.S.P. Aid4families.com, Earl Mattews and Reyanne Briand acted as securities dealers without being registered as such with the AMF.
In its decision, the BDRVM expressed concern about the following facts in particular:
- Offering highly attractive returns in the present market conditions;
- Using the legal structure of a general partnership;
- Soliciting Québec and foreign investors;
- Mentioning the benefit of financial security, in light of registration with the Registraire des entreprises du Québec (Québec Enterprise Register);
- The lack of a prospectus, thereby violating sections 11 and 12 of the Act; and
- The lack of registration as a securities dealer, thereby violating section 148 of the Act.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
— 30 —
Frédéric Alberro (514) 940-2176
Information Centre: (877) 525-0337