Cease trade order on units of LaSalle Funds

Decisions and Freeze and cease trade orders

Montréal - Last Friday, the Autorité des marchés financiers (the AMF) filed a request with the Bureau de décision et de révision (the Bureau) for an order in particular to cease any activity in respect of a transaction in the units of LaSalle Funds.

Today, as a conservatory measure, the Bureau issued the requested orders, which prohibit the redemption, transfer, substitution or conversion of LaSalle Balanced Fund and LaSalle Equity Fund units.

The AMF asked the Bureau to impose the conservatory measure given that it recently announced it would not approve the simplified prospectus filed by LaSalle Funds, in particular because the registration file does not meet regulatory requirements. Accordingly, LaSalle Funds ceased activities related to the distribution of units on January 14, 2011.

The matter of the LaSalle Funds will be reviewed by the Bureau on January 28, 2011.

The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial industry.

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