Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings involving two charges against Jean-Claude Vachon, a witness called to appear in connection with an investigation.

Mr. Vachon is facing two charges for which he could be fined a minimum of $4,000 for refusing to produce documents requested by the AMF and attempting to hinder the action of an AMF representative.

The AMF reminds witnesses called to appear before investigators that they are required to respond to requests for documents and to submit to investigation, failing which they could be subject to legal proceedings and fines.

Registered firms and professionals who fail to produce documents requested by the AMF in connection with an inspection within the prescribed time period could also be fined.

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

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