Montréal - On September 27, 2012, Justice of the Peace Nathalie Duperron-Roy ordered Alfonso Vincenti, a former mutual fund dealer struck off the roll for life by the Chambre de la sécurité financière, to pay a fine of $74,000, following the joint recommendation by the parties.

Mr. Vincenti pleaded guilty to thirteen charges, including seven counts of illegal practice and six counts of aiding in a distribution without a prospectus related to Darcy International Financial Holding Inc. The amount of the fine is twice the minimum penalty prescribed by law.

In this matter, the AMF had also launched a proceeding against his accomplice Efstratios Gavriil, also a former mutual fund dealer struck off the roll for life by the Chambre de la sécurité financière. Mr. Gavriil was fined $90,000 in January 2012.

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

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