August 6, 2009 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 (BDRVM) issued, on the grounds of protecting investors and the public interest, an ex parte order on July 31, 2009 prohibiting Jean-Yves Mulet from pursuing activities as a securities adviser and from carrying on any activity, directly or indirectly, in respect of transactions in a form of investment governed by the Securities Act.

The BDRVM also authorized the filing of the decision with the office of the Superior Court. This could enable the AMF to intervene in a timely manner in respect of the Court if the respondent carried on with illegal activities.

In its decision, the BDRVM stated that it was particularly concerned about the following allegations and facts as presented by the AMF:

• Mr. Mulet solicited investors for the distribution of securities, and did so without being registered as a securities dealer or adviser with the AMF and without a prospectus;
• Mr. Mulet proposed that investors enter into mortgage-backed loans against their homes to raise the funds needed for the distribution;
• Mr. Mulet is currently the respondent in three penal proceedings for illegal practice and illegal distributions;
• It is feared that the illegal activities will be pursued by the respondent and will further harm investors and that they will undermine public confidence in the integrity of the markets.

In addition, the BDRVM stated that the person interviewed by the AMF investigator who had been solicited by Mr. Mulet had the quick reflex to seek information about the individual and that all investors are urged to do likewise through available resources, including the AMF Information Centre.

The AMF reminds investors that AMF publications are also available to help make better investment choices. They include brochures such as Red-flagging financial fraud and Choosing a securities firm and representative, and the leaflet When you talk to your broker, take notes! These publications can be downloaded from the AMF website at Publications/Brochures and leaflets for consumers.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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