Decisions and Freeze and cease trade orders Securities
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. 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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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
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- In the Matter of Norshield - AMF Sues 11 individuals, Files 140 Charges and Seeks $976,000 in Fines
- Penalty against representative in Norshield matter
- Penalty against second representative in Norshield matter
- Norshield - Yves Tardif fined $104,000
- Mount Real and Norshield - Marc-André Froment and Roberto Milzi fined
- In the Matter of Norshield - Michel L'Italien fined $80,000 and René Joubert found guilty
- Norshield - René Joubert Fined $225,000
- In the Matter of Norshield - Enrico Bruni fined $18,000