Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued an order on September 19, 2008 to Kenneth Battah to cease any activity, directly or indirectly, in respect of transactions in securities and carrying on activities as a securities adviser pursuant to the Securities Act.

The BDRVM stated that it was concerned by the following allegations:

  • Kenneth Battah continues to solicit investors;
  • Kenneth Battah is not registered with the AMF as a securities dealer or adviser;
  • Kenneth Battah claims that the proposed investments were equivalent to guaranteed investment certificates;
  • The firms Borealis International Inc. and The Synergy Group (2000) Inc., in which the investments were made, did not have a prospectus approved by the AMF or benefit from any prospectus exemption;
  • The investments appear to be hidden behind various exemptions in securities regulation;
  • The investments are of a type used for tax evasion or tax fraud.

In addition, the investments proposed by Kenneth Battah are related to Borealis International Inc., The Synergy Group (2000) Inc. and Integrated Business Concepts Inc., in respect of which a reciprocal cease trade order was issued by the BDRVM on August 4, 2008.

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

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