Decisions and Freeze and cease trade orders

Montréal – On December 5, 2016, at the request of the Autorité des marchés financiers (the “AMF”), the Tribunal administratif des marchés financiers (the “Tribunal”) issued an interim decision against Philippe Beaudoin1 and Pierre-Luc Bernier.

In its decision, the Tribunal prohibits Philippe Beaudoin and Pierre-Luc Bernier, even in the event they register with another firm, from soliciting new clients or opening any new client accounts, offering their existing clientele new leveraged loans, and carrying out any transactions in client accounts without the prior written approval of a registrant approved by the AMF, except to allow clients to transfer their assets to another dealer or to redeem their funds, solely for exit purposes.

The Tribunal also ordered Beaudoin, Rigolt et associés inc., Jean-Christian Beaudoin, Marc Beaudoin, Philippe Beaudoin and Pierre-Luc Bernier to deliver to the AMF, at its request, the original of any client file specified by the AMF, on an appropriate medium that allows access to the information at all times.

The interim decision will remain in effect until the Tribunal renders a final decision in this matter.

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

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1 The respondent Philippe Beaudoin should not be confused with Philippe Beaudoin who is registered under NRD number 3229391 and is attached as a mutual fund dealer representative to Desjardins Financial Services Firm Inc.