Decisions and Freeze and cease trade orders Securities
Montréal – In a decision handed down on March 15, 2010, the Bureau de décision et de révision (the "Bureau") upheld its decision to prohibit Géniforce from pursuing activities as a securities adviser and from carrying out any activity in respect of a transaction in securities, directly or indirectly, and ordered Pierre-Philippe Frenette not to use any website for the purpose of carrying out any activity in respect of a transaction in securities, including activities as a securities dealer on an individual basis or under the corporate name Géniforce.
However, the Bureau lifted the order issued on November 27, 2009 whereby Pierre-Philippe Frenette was prohibited from pursuing activities as a securities adviser on an individual basis and from carrying out any activity in respect of a transaction in securities, directly or indirectly.
This partial lifting of the order is further to Mr. Frenette's acknowledgment of the facts alleged by the Autorité des marchés financiers (the "AMF") and the Bureau's opinion that he did not act with dishonest or fraudulent intention, his acceptance of responsibility and recognition of his mistake, and the fact that he did not cause any financial loss or pocket any profits.
The AMF reminds investors that they should always check with the AMF Information Centre to determine whether the firms and individuals offering to act as intermediaries or proposing financial products have the necessary permits. Various AMF leaflets and brochures are also available to help consumers make better investment choices. Contact the AMF Information Centre or consult the AMF website, under Publications/Brochures and leaflets for consumers.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: (514) 940-2176
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