February 19, 2014 Securities

Montréal - On February 14, 2014, Presiding Justice of the Peace Serge Cimon of the Court of Québec, district of Montréal, ordered Enrico Bruni to pay fines totalling $18,000 for his involvement in the matter of Norshield. It was one and a half times the minimum fine set out under the Securities Act.

In January 2014, Enrico Bruni was found guilty on four of the six counts brought against him by the Autorité des marchés financiers ("AMF") in connection with the illegal distribution of products related to the matter of Norshield. More specifically, he was found guilty of illegally acting as a securities dealer (two counts) and aiding Commax Management Inc. with illegal distributions (two counts).

In March 2010, the AMF launched eleven suits tied to the illegal sale of investment vehicles related to Norshield

. The 11 purported representatives have been found guilty and fines totalling $646,500 have been imposed.

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

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