July 31, 2013 Securities

Montréal - On June 19, 2013, Justice of the Peace Johanne White of the Court of Québec ordered Consolidated International Investment Holdings (CIIH) to pay fines totalling $8,000.

In November 2012, CIIH pleaded guilty to two counts for failing to report, within the prescribed five-day period, a change in its control over the securities of two reporting issuers.

By imposing the harshest penalty sought by the Autorité des marchés financiers ("AMF") in the matter, Judge White took into account the objectives of the disclosure mechanism for insider trading and the fact that the company was sanctioned on a number of previous occasions for similar offences.

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

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