Unauthorized trading, illegal practice and misrepresentationsNathalie Beckers found guilty and fined over $300,000

Securities Decisions and Freeze and cease trade orders

Montréal – On January 30, 2017, Judge Lucie Marier of the Court of Québec, district of Saint-Jérôme, found Nathalie Beckers guilty on the five counts brought against her in connection with illegal actions related to a vulnerable client. On March 9, 2017, in handing down her sentence, Judge Marier fined the defendant a total of $300,608.

These decisions follow a penal proceeding launched by the Autorité des marchés financiers (the “AMF”) in 2015. Nathalie Beckers faced three counts of contravening the trading orders or failing to execute the transactions of her client, one count of illegal practice as a representative in insurance of persons and one count of making misrepresentations.

Judge Marier imposed triple the minimum fine on the counts of illegal practice and making misrepresentations, and double the minimum fine on the counts of contravening trading orders or failing to execute the requested transactions.

Judge Marier considered the following aggravating factors in particular to determine the amount of the fines: Nathalie Beckers’ past record, the victim’s vulnerability, the breach of trust, the misappropriation of funds and the monetary losses of the victim’s family.

This was Nathalie Beckers’ second trial after a judgment against her was revoked in 2016.

In 2013, a freeze order This link will open in a new window (news release in French only) was issued against Nathalie Beckers in order to freeze her bank accounts and assets. This order was withdrawn in 2015 upon application of a restitution order under which the balance of the frozen accounts was transferred to the AMF Education and Good Governance Fund.

In 2015, a prohibition order was issued against Nathalie Beckers banning her from acting as a director or officer of a firm for a period of five years.

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

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