Decisions and Freeze and cease trade orders Securities

Montréal – The Court of Québec (Criminal and Penal Division) issued an order on June 5, 2007 for Pâquerette Pelletier to pay a fine totalling $133,000. On September 20, 2006, Ms. Pelletier pleaded guilty to the 38 charges brought against her by the Autorité des marchés financiers (AMF) on April 28, 2006.

The AMF had brought 19 charges against Ms. Pelletier for distributing securities without a prospectus approved by the AMF, thereby violating section 11 of the Securities Act. The maximum penalty was $95,000 for these charges.

In addition, the AMF had brought 19 charges against Ms. Pelletier for distributing securities without being registered with the AMF as a securities dealer or adviser, thereby violating section 148 of the Act. The maximum penalty was $19,000 for these charges. However, the Court determined, for exemplary reasons, to impose a penalty that was double the minimum fine for these 19 charges.

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

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