Montréal, May 19, 2011 - On May 10, 2011, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision (the Bureau) upheld an agreement between the AMF and Luc Chartrand in which the latter undertook to cease any activities as a securities or derivatives adviser.
The Bureau also ordered that various brokerage accounts of Luc Chartrand associated with the activities of CHIL Investment Club or Le club d'investissement CHIL be frozen. The agreement upheld by the Bureau requires Luc Chartrand to liquidate the funds by May 23, 2011 and hold the money in the accounts. The Bureau may eventually order that the freeze orders be lifted for the benefit of investors in this matter.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial industry.
- 30 -
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337