Decisions and Freeze and cease trade orders Securities
Montréal – Judge Richard Wagner of the Superior Court (Criminal and Penal Division) has dismissed the appeal filed by Claude Valade. Mr. Valade was appealing a decision handed down on February 16, 2006 by Judge Claude Leblond of the Court of Québec (Criminal and Penal Division), in the district of Montréal, whereby he was found guilty on ten counts filed against him by the Autorité des marchés financiers (AMF) and ordered to pay a fine in the amount of $30,000, plus costs totalling $7,510.
Mr. Valade, who was an employee at Mégapolis at the time of the offences, was charged with violating the Securities Act, R.S.Q. c. V-1.1 (the “Act”) by:
- assisting, through an act or omission, Club d’investissement HT, Club d’investissement HT 103 and Club d’investissement HT 105 with the distribution of a form of investment governed by the Act, without having a prospectus approved by the AMF, thereby violating section 11, with reference to section 208 of the Act (5 counts);
- carrying on activities as a securities dealer without being registered as such with the AMF, thereby violating section 148 of the Act (5 counts).
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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Frédéric Alberro (514) 940-2176
Financial sector participants: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers