Montréal, February 21, 2011 - On February 16, 2011, Judge André Plante of the Court of Québec (Criminal and Penal Division), district of Québec City, ordered Alan Murphy to pay fines totalling $26,000.

On December 17, 2010, Alan Murphy was found guilty of illegally pursuing activities as a mutual fund dealer on 26 occasions.

Judge Plante specifically mentioned the number of transactions, Alan Murphy's persistent misconduct that adversely affected the integrity of financial markets, the potential harm caused by his actions, the fact that these actions generated a commission and the objective seriousness of the offences as aggravating factors in imposing double the minimum fine.

Alan Murphy is appealing his guilty verdict in the Superior Court of Québec.

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

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