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.