Montréal - On August 29, 2012, Justice of the Peace Yannick Couture fined André Gagné, an officer of Ressources Robex inc., a total of $6,000.
André Gagné pleaded guilty to two charges brought by the Autorité des marchés financiers (the AMF) for failing to file his reports on the changes in his control over securities of Ressources Robex inc. within the prescribed time period twice between November 2009 and August 2010.
In September 2009 the AMF imposed five administrative monetary penalties on André Gagné for similar offences committed in 2008 and 2009. The latest fines against Mr. Gagné are therefore harsher in light of repeat offences.
Reminder to insiders
The AMF reminds insiders that they have five days to report their transactions using the System for Electronic Disclosure by Insiders (SEDI) and that it will take the appropriate steps against insiders who repeatedly file their reports late, including by taking penal proceedings against them. An insider who does not file his report on time commits a serious offence by depriving investors of information which could influence their investment decision.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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