Penalty against representative in Norshield matter

Decisions and Freeze and cease trade orders Securities

Montréal – Judge Sylvie Durand of the Court of Québec, district of Montréal, recently imposed fines totalling $30,000 against Éric Couture, one of the individuals sued by the Autorité des marchés financiers (the "AMF") in the matter of Norshield.

Éric Couture pleaded guilty to three counts of illegal distribution without a prospectus, and the Judge ordered him to pay fines in the amount of $30,000.

In March 2010, the AMF launched 11 proceedings in connection with the illegal sale of investment vehicles related to Norshield and sought fines totalling $976,000.

Éric Couture was recently fined $15,000 for similar offences in the matter of Mount Real.

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

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