Illegal practice as a securities adviser - Another fine against Kader Hanahem
Securities Decisions and Freeze and cease trade orders
Montréal - On March 21, 2016, Judge Paul Dunnigan of the Court of Québec, district of Saint-François, approved a joint proposal made by the parties and ordered Kader Hanahem to pay a total fine of $350,000 in connection with illegal activities as a securities adviser.
Specifically, Kader Hanahem pleaded guilty to three charges of illegal practice as a securities adviser and three charges of breaching a commitment made with the AMF (link in French only) by pursuing activities despite his commitment never to do so again. The AMF investigation revealed that Kader Hanahem had continued to pursue activities illegally, through Groupe Financier Orizon, in managing the securities portfolios of at least three investors.
In 2015, in connection with another proceeding related to illegal activities as a securities adviser, Kader Hanahem was found guilty on six other charges and was ordered to pay a total fine of $630,000. The guilty verdict and the sentence were confirmed on January 19, 2016 by Judge François Toth of the Superior Court of Québec, after the respondent appealed the decisions handed down at trial.
In addition, Kader Hanahem as well as his spouse, Sophie Jean, and Groupe Financier Orizon have been the subject of prohibition and freeze orders since April 2014. And in November 2010, Kader Hanahem was struck off the roll for six years 
This link will open in a new window by the Chambre de la sécurité financière for obtaining subscribers of shares although he was not authorized to do so with his certificate.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
- 30 -
Information:
Media only:
Sylvain Théberge: 514-940-2176
Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
Twitter: @lautorite This link will open in a new window