PlexCoin - Tribunal maintains orders and grants AMF’s reamended request
Decisions and Freeze and cease trade orders Securities
Montréal, October 1, 2018 – On September 20, 2018, the Financial Markets Administrative Tribunal (the “Tribunal”) rejected the contestations This link will open in a new window filed by DL Innov inc., Gestio inc., Dominic Lacroix and Sabrina Paradis-Royer in respect of two decisions it had rendered ex parte on July 20, 2017 and September 21, 2017 further to requests from the Autorité des marchés financiers (the “AMF”).
In its decision, the Tribunal found there to be apparent offences under the Securities Act, as the activities associated with the investments offered to the public in PlexCoin (cryptocurrency) qualify as securities.
The Tribunal accordingly maintained the cease trade orders it had issued against PlexCorps, PlexCoin, DL Innov inc., Gestio inc., Dominic Lacroix and Sabrina Paradis-Royer.
The Tribunal also maintained the freeze orders, as renewed since then, that it had rendered against DL Innov inc., Dominic Lacroix and Sabrina Paradis-Royer and the impleaded parties Royal Bank of Canada, Shopify inc., Shopify Payments Canada and Wells Fargo Canada Corporation in its July 20, 2017 and September 21, 2017 decisions.
New orders
Furthermore, the Tribunal allowed the AMF’s reamended request and ordered PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix to shut down the websites www.plexcorps.com, www.plexcoin.com, www.plexcoin.tech or any other site of the same nature, published or disseminated, directly or indirectly, by them.
The Tribunal also ordered PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix to withdraw any announcement or solicitation of the same nature as the one made via the websites www.plexcorps.com, www.plexcoin.com and www.plexcoin.tech, Facebook, any discussion website or otherwise or in connection with securities, published or disseminated, via the Internet or otherwise, directly or indirectly, by them.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
Information:
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