July 14, 2014 Securities

On June 19, 2014, Judge Serge Délisle, Justice of the Peace in Longueuil, confirmed an agreement between the parties whereby Guy Bégin pleaded guilty to eight counts of illegal practice as a securities dealer and distributions without a prospectus that were brought against him by the AMF. Judge Délisle imposed the penalty sought by the AMF, namely, a total fine of $32,000.

More specifically, Guy Bégin pleaded guilty to four counts of illegal practice as a securities dealer and was ordered to pay a fine of $3,000 for each count. As well, he pleaded guilty to four counts of aiding with distributions without a prospectus and was ordered to pay the minimum fine of $5,000 for each count.

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