Illegal practice and distributions without a prospectusNormand Tétrault fined a total of $190,000

Securities Decisions and Freeze and cease trade orders

Montréal – On February 8, 2017, Judge Claude Leblond of the Court of Québec, district of Montréal, imposed fines totalling $190,000 on Normand Tétrault for illegal practice as a securities dealer.

The decision was further to a penal proceeding brought by the Autorité des marchés financiers (the “AMF”) in 2014. Normand Tétrault faced 20 counts for illegal practice as a securities dealer, distribution without a prospectus and aiding in making a distribution without a prospectus.

After considering the guilty plea entered by Normand Tétrault to all the charges and having reviewed the parties’ joint recommendation, Judge Leblond ordered the respondent to pay fines totalling $190,000, twice the minimum amount.

The trial against Pierre-Michel Combaluzier and Paul Dénommée, the other two defendants, will continue in June 2017.

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

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