Denis Savard fined $2,000
Decisions and Freeze and cease trade orders Securities
Montréal – On November 29, 2007, the Bureau de décision et de révision en valeurs mobilières imposed an administrative fine of $2,000 on Denis Savard, President of Diamond Funds Inc.
This decision is further to Mr. Savard’s admission that he contravened subsection 5.5 (1) (b) of Part 5 of Regulation 81-102 Mutual Funds by failing to wait for the approval of the Autorité des marchés financiers before transferring the assets of Diamond World Value Fund to Diamond Contrarian Investment Strategy Fund.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
— 30 —
Information:
Media only:
Frédéric Alberro (514) 940-2176
Information Centre:
Québec City: 418-525-0337 Montréal : 514-395-0337
Toll-free:1-877-525-0337