July 22, 2010 Securities

Montréal – The Autorité des marchés financiers (AMF) launched legal proceedings against Martin Poulin and Jean-Yves Mulet in the Court of Québec, district of Québec City, and is seeking fines of $79,500 in connection with 10 violations of the Securities Act and An Act respecting the distribution of financial products and services.

Martin Poulin faces five charges in respect of which the AMF is seeking $25,500 in fines. The AMF charged him with illegal practice as a securities dealer on two occasions, illegal practice as a group savings plan representative, making an illegal distribution by attempting to sell an investment contract, and illegal receipt of a representative’s commission further to the sale of a financial product. The fines sought by the AMF are twice the minimum fines set out in the Act.

Jean-Yves Mulet faces five charges in respect of which the AMF is seeking $54,000 in fines. The AMF charged him with illegal practice as a securities dealer on two occasions, illegal practice as a group savings plan representative and making an illegal distribution by attempting to sell an investment contract. The AMF also charged him with contravening a decision handed down in July 2009 by the Bureau de décision et de révision (the “Bureau”) prohibiting him from carrying out any activity in respect of transactions in securities. The AMF is seeking fines that are from three to five times the minimum fines set out in the Act citing, in particular, the repeat offence as an aggravating factor.

In June 2009, Jean-Yves Mulet was found guilty of illegal practice as a securities dealer and fined $1,000 in the matter of PVM Capital. He is also charged with illegal practice and illegal distributions under two penal proceedings launched in connection with Centre Financier Montérégie/C.F.M. The AMF is seeking fines of $519,000 against him related to this matter.

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

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Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337

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