Illegal practice and distributions - Jean-Marc Denoncourt fined $18,000

Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on September 17, 2010, Judge Ruth Veillet of the Court of Québec, district of Montréal, imposed fines totalling $18,000 on Jean-Marc Denoncourt in connection with a penal proceeding launched by the Autorité des marchés financiers (AMF) for illegal practice and distributions.

In May 2010, Jean-Marc Denoncourt pleaded guilty to six charges: three for illegally acting as a securities dealer and three for aiding, by act or omission, Technologies et Solutions du Futur (TSF) inc., in the distribution of shares without a prospectus approved by the AMF.

In the same matter, the AMF also launched two lawsuits against Charles D’Entremont and Serge Michaud, both of whom are charged with aiding in an illegal distribution. The trial of Charles D’Entremont will take place in October; Serge Michaud’s trial will be heard in November.

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

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