Securities

Montréal - On December 9, 2014, Judge Yannick Couture fined Frédéric Lavoie1 $124,000 after Mr. Lavoie pleaded guilty to 10 charges.

In this matter, the Autorité des marchés financiers (the "AMF") claimed that the defendant acted as a dealer illegally four times, made a distribution without a prospectus twice, aided in making a distribution without a prospectus twice and declared on two occasions that securities would be listed for trading on a stock exchange.

In his decision, Judge Couture stressed the importance of protecting the public. The defendant was registered as a dealing representative at the time of the facts at issue and knew the investors. He also noted that the fact that the defendant was in good faith was no excuse for breaking the law.

Four investors lost a total of $110,000 in this matter.

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

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1 Not to be confused with Frédéric Lavoie, director and shareholder of Avenue ModelCom Capital Partners Inc.