Decisions and Freeze and cease trade orders

Montréal, June 29, 2011 - On June 3, 2011, Judge Gaby Dumas, Justice of the Peace of the Court of Québec, district of Laval, found Zaineb Darkaoui, a former Representative - Damage Insurance, guilty on 12 charges filed against her in July 2010 by the Autorité des marchés financiers (the "AMF").

The AMF accused Zaineb Darkaoui of acting as a dealer in damage insurance although she was not attached to any firm, nor was she registered as an independent representative. Following her dismissal in July 2009, Zaineb Darkaoui no longer held the necessary authorizations but offered damage insurance products to at least 10 people, including automobile or home insurance policies.

The AMF also accused her of telling clients that they were duly insured although no policy had been obtained and, in fact, she had appropriated the insurance premiums paid by her clients.

In this matter, fines representing double the minimum fine set by the Securities Act were imposed. The AMF cited exemplary reasons, deterrence and the appropriation of funds in its arguments.

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

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