Montréal - On May 14, 2012, at the request of the Autorité des marchés financiers (the AMF) and with the consent of the respondents, the Bureau de décision et de révision (BDR) suspended the rights granted to the firm Rimac Financial Inc. to act as a mutual fund dealer.

The BDR also ordered the appointment of a new Ultimate Designated Person to replace Feico Jan Leemhuis and a new Chief Compliance Officer to replace André Nolin. In addition, the BDR prohibited the three representatives attached to this dealer, Feico Jan Leemhuis, André Nolin and Dominique Ribière, from acting as representatives of a mutual fund dealer until the firm's suspension is lifted or they are attached to another mutual fund dealer.

If they fail to appoint a new Ultimate Designated Person and a new Chief Compliance Officer to the satisfaction of the AMF within 90 days of this decision, Rimac Financial Inc. will have its registration withdrawn.

Rimac Financial Inc., Feico Jan Leemhuis and André Nolin were fined a total of $10,000 in administrative penalties. The AMF claimed that Rimac Financial Inc. did not send it documents required in connection with an inspection within the prescribed time period. Feico Jan Leemhuis and André Nolin are charged with not fulfilling their oversight and control duties.

This decision follows a regular inspection conducted over the past few weeks further to which the AMF determined that Feico Jan Leehmuis and André Nolin do not adequately fulfill the duties imposed on them by law.

Notice to clients of Rimac Financial Inc.
During the suspension period, clients of Rimac Financial Inc. will be referred to another dealer, which will provide them with service.

If you have any questions, please contact an agent at the Information Centre.

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

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