Montréal - On May 3, 2012, Justice of the Peace Sylvie Desmeules, of the Court of Québec for the district of Sherbrooke, ordered Claude TardifNot to be confused with the dealing representative (investment dealer) and derivatives representative Claude Tardif attached to Newhedge Canada Inc. in Montréal under NRD registration No. 1590761., who pleaded guilty to four charges associated with the illegal sale of investment vehicles related to Norshield, to pay $16,000 in fines.

More specifically, the Autorité des marchés financiers (the AMF) alleged that he illegally acted as a securities dealer (two counts) and aided Balanced Return Fund in making illegal distributions (two counts).

In March 2010, the AMF launched eleven suits tied to the illegal sale of investment vehicles related to Norshield (pdf - 38 KB)This link will open in a new window. So far, seven representatives have been found guilty (Éric Couture, Christophe Balayer, William Marston, Francesco Iacono, Yves Tardif, Marc-André Froment and Claude Tardif) and $239,500 in fines have been charged.

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

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