Montréal – On October 3, 2016, Justice of the Peace Nancy Lecompte of the Court of Québec, district of Salaberry-de-Valleyfield, approved an agreement entered into between the parties and fined Payons Comptant Valleyfield inc. (“Payons Comptant”), Jean-François Lacombe, Michel Séguin1 and Guy Lemieux2 a total of $71,400. This decision follows penal proceedings launched by the Autorité des marchés financiers (the “AMF”) against the respondents.
Payons Comptant was found guilty on three counts of operating a money-services business even though it did not hold a licence issued by the AMF.
Jean-François Lacombe, Michel Séguin and Guy Lemieux, the officers-owners of the business at the time of the facts, were found guilty on three counts of aiding Payons Comptant in committing the offences in question.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
1 The Respondent Michel Séguin should not be confused with Michel Séguin (certificate No. 130671), who holds a certificate in financial planning and is attached to BMO Investments Inc.
2 The Respondent Guy Lemieux should not be confused with:
- Guy Lemieux (certificate No. 121153), who holds a certificate in damage insurance (broker) and is attached to Renaud Assurances et Gestion de risques;
- Guy Lemieux (certificate No. 121154), who holds a certificate in personal-lines damage insurance (broker) and is attached to Lemieux Assurances inc.