Decisions and Freeze and cease trade orders Insurance

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued a cease trade order on June 18, 2007 against Normand Bouchard.

The AMF took action based on the following allegations:

Further to advertisements in a local newspaper, Normand Bouchard acted as a securities dealer without being registered as such with the AMF by carrying out transactions in the shares of Millenia Hope inc. on behalf of investors who entrusted him with their user code and PIN for access to their brokerage account.

In its decision, the BDRVM stated it was particularly concerned about the following:

  • The advertising intended for the general public carried in various local newspapers in the past few months;
  • The fact that investors entrusted their user code and PIN to the Respondent;
  • The difficulty that investors had in obtaining their funds as promised;
  • The lack of diversification in the investments made; and
  • The allegation whereby Normand Bouchard was acting as a securities dealer without being registered as such with the AMF.

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

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