Montréal – The Autorité des marchés financiers (AMF) has launched a penal proceeding against Serge Guertin in respect of which it is seeking fines totalling $258,000.
The AMF alleges that Serge Guertin aided the firms Corporation financière de la Montérégie and Centre de gestion et de placements S.G. inc. in making illegal distributions and illegally acted as a securities dealer on 11 occasions. The AMF further alleges that he made misrepresentations with respect to securities on four occasions by telling certain investors that their investments were guaranteed.
The AMF is seeking fines that are three times the minimum fine set out in the Act for exemplary reasons. As aggravating factors, it took into account Serge Guertin’s professional status and the harm caused to the victims.
The AMF’s investigation showed that seven investors invested approximately $475,000 with Serge Guertin. Only two investors have recovered their invested capital.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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