On January 12, 2012, the Bureau de décision et de révision (the Bureau) approved a joint recommendation by the Autorité des marchés financiers (the AMF) and Les Conseillers en placement Randisi inc. and Alfonso Randisi. Under this recommendation, Les Conseillers en placement Randisi inc. and Alfonso Randisi agree to pay an administrative penalty of $10,000. In this matter, the respondents changed the ultimate designated person and chief compliance officer of Les Conseillers en Placement Randisi inc. This penalty follows an analysis of the financial statements conducted by the AMF which noted that they had not been prepared in accordance with the requirements of Regulation 31-103.