Montréal - On June 17, 2015, Justice of the Peace Sylvie Desmeules of the Court of Québec, district of Saint-François, imposed fines totalling $630,000 on Kader Hanahem, a former mutual fund dealer, who was found guilty on the six counts brought against him by the AMF for illegal practice as a securities adviser.
Kader Hanahem has filed an appeal.
New penal proceeding
The AMF recently launched another penal proceeding against Kader Hanahem in the judicial district of Saint-François. He now faces six other charges, namely, three counts for illegal practice as a securities adviser and three counts for failing to carry out a commitment made with the AMF by pursuing activities as a securities adviser with three investors, despite undertaking not to do so. If found guilty, he faces minimum fines totalling $186,000.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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