Line Vaillancourt fined $14,000

Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on April 14, 2009, Judge Réna Émond of the Court of Québec (Criminal and Penal Division), district of Québec City, ordered Line Vaillancourt to pay a fine totalling $14,000 in connection with a penal proceeding launched by the Autorité des marchés financiers (AMF) in May 2008.

Line Vaillancourt pleaded guilty to the 14 charges against her for:

  • pursuing activities as a securities dealer within the meaning of section 5 of the Securities Act (the "Act") without being registered as such with the Commission des valeurs mobilières du Québec by acting as an intermediary in a securities transaction, namely, the distribution of debt securities issued by Méga Prêt 2000 and Groupe Financier Inter Continental, thereby violating sections 148 and 202 of the Act.

Line Vaillancourt has also been named in another penal proceeding launched by the AMF in March 2009 in the matter of N.S.I. Natural Solutions International Inc. In the suit, she faces 16 counts, and the AMF is seeking fines against her in the amount of $88,000.

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

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