Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), on December 14, 2007, the Bureau de décision et de révision en valeurs mobilières (BDRVM) ordered Jacques Nadeau to cease carrying on business under the name Auto Plus Écono and Réjean Leblond to cease carrying on any activity directly, indirectly or by Internet in respect of a transaction in securities, in particular the distribution of units in the “free energy project” through the website www.1energie-gratuite.com.

In its decision, the BDRVM expressed concern about the following allegations and facts in particular:

  • Allegations that:
    • the respondents did not have a prospectus approved by the AMF; 
    • the shares would be issued by a future company;
    • the respondents were not registered as securities advisers with the AMF;
  • The general solicitation by Internet of a venture capital loan.

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

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