October 31, 2014 Securities

Montréal - On October 8, 2014, in the Court of Québec (district of Montréal), Judge Louise Villemure ordered Serge Guertin to pay fines totalling $172,000, which is double the minimum penalty prescribed under the Securities Act for each of the 26 charges brought against him.

On January 20, 2014, Serge Guertin pleaded guilty to 26 charges. The Autorité des marchés financiers (the AMF) charged him with aiding the firms Corporation financière de la Montérégie and Centre de gestion et de placements S.G. inc. in making illegal distributions and illegally acting as a securities dealer on 11 occasions. The AMF also charged him with making misrepresentations to investors on four occasions.

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

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