December 10, 2009 Decisions and Freeze and cease trade orders Deposit institutions

Montréal – On December 7, 2009, in the Court of Québec (Criminal and Penal Division), district of Montréal, Judge Denis Lavergne accepted a guilty plea by Concentra Trust and ordered it to pay a fine of $50,000.

Concentra Trust pleaded guilty to one charge brought against it in December 2005 by the Autorité des marchés financiers (AMF) for illegally carrying on business as a trust company between December 2004 and  2005 without being duly registered with the AMF. Under the agreement entered into between the parties, the judge ordered it to pay a fine of $50,000.

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

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