Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued on February 27, 2007 a freeze order on certain assets of Gestion Guychar Canada inc., Services financiers Polygone inc., Guy Charron, Richard Lanthier, 3965121 Canada inc., 3330575 Canada inc. and 177889 Canada inc.

As well, the BDRVM issued a cease trade order against Gestion Guychar Canada inc., Guy Charron, Richard Lanthier and Huguette Gauthier. It also prohibited Richard Lanthier and Huguette Gauthier from acting as a securities adviser. Because of the urgency of the situation, the BDRVM decided it was in the public interest to issue the decision without a prior hearing. The AMF launched searches in connection with this matter.

The AMF took action based on the following allegations:

  • Gestion Guychar Canada inc., its president and major shareholder Guy Charron as well as Richard Lanthier and Huguette Gauthier distributed and/or assisted with the distribution of a form of investment governed by the Securities Act (the “Act”) without holding a prospectus approved by the AMF;
  • Richard Lanthier and Huguette Gauthier acted as securities dealers and advisers without being registered with the AMF for such purpose;
  • Approximately 20 investors purchased term notes and promissory notes for a total of $2.5 million through Richard Lanthier, Huguette Gauthier, Guy Charron and related companies. Other investors made undetermined investments in connection with this matter;
  • Some notes were not redeemed upon maturity.

In its decision, the BDRVM expressed concern about the following facts in particular:

  • A large number of investors were solicited;
  • Many investors were having trouble redeeming their investments;
  • Some investments were not documented;
  • There were allegations that a form of investment governed by the Securities Act was distributed by unauthorized persons without the prospectus required under legislation.

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

— 30 —


Media only:
Frédéric Alberro (514) 940-2176
Financial sector participants: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers

Additional news