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., G.I.S.P., Earl Mattews et Reyanne Briand.

The AMF took action based on the following allegations:

  • G.I.S.P., G.I.S.P., 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 without holding a prospectus approved by the AMF;
  • G.I.S.P., G.I.S.P., 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.

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