On March 11, 2014, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision imposed administrative penalties totalling $64,321 on the securities adviser Gestion de portefeuille Tahar Mansour inc. and its sole representative and officer Tahar Mansour. The Bureau also ordered that the rights conferred on the respondents through registrations be withdrawn, although these registrations had been suspended.
As a result of an inspection, a review of their financial statements and an investigation, the AMF noted the following violations by the respondents:
- failing to carry out trial balances on a monthly basis;
- failing to provide clients with transaction statements on a quarterly basis;
- failing to hold a trust account and depositing client funds in his own general account;
- failing to maintain the required working capital;
- illegally pursuing activities as a securities dealer;
- receiving illegal remuneration as a securities adviser.