Court imposes a fine on François Baillargeon-Bouchard

Decisions and Freeze and cease trade orders Securities

Montréal – On November 18, 2021, Presiding Justice of the Peace Sylvie Marcotte of the Court of Québec, district of Québec, approved a joint proposal by the parties as regards François Baillargeon-Bouchard.

Justice Marcotte accepted Mr. Baillargeon-Bouchard’s guilty plea to the count of attempting to hinder a representative of the Autorité des marchés financiers (“AMF”) in the exercise of his or her functions in the course of an investigation, and ordered him to pay a fine of $10,000.

In October 2019, the AMF launched an investigation to shed light on allegations that Mr. Baillargeon-Bouchard had acquired lead lists without regard for his obligation to protect the personal information of the individuals on the lists. Mr. Baillargeon Bouchard was summoned by the AMF investigators and questioned about the acquisition of those lists, including when he acquired them and when he received them.

In the two meetings that took place between the AMF investigators and Mr. Baillargeon-Bouchard in the fall of 2019, Mr. Baillargeon-Bouchard said that he had acquired and received a total of six lead lists, all of them in 2017 only. He repeated this assertion in a response to a request for clarification from the AMF. However, through its investigation, the AMF obtained evidence that, for at least three individuals appearing on those lead lists, the information dated from November 2018.

On June 4, 2021, the Disciplinary Committee of the Chambre de la sécurité financière revoked Mr. Baillargeon-Bouchard’s certificate as a representative in insurance of persons and mutual fund dealer representative for a total of six months. Mr. Baillargeon-Bouchard pleaded guilty to the disciplinary charges against him, including the charge of acquiring the lead lists in breach of his professional obligations to protect the confidential information of the individuals appearing on the lists.

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

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