April 30, 2004 Decisions and Freeze and cease trade orders Securities

Montréal – On April 22, 2004, at the request of the Agence nationale d’encadrement du secteur financier (also known as the “Autorité des marchés financiers” or “AMF”), the Bureau de décision et de révision en valeurs mobilières (BDRVM):

• ordered the Caisse populaire Desjardins Charles-Lemoyne and Valeurs mobilières Desjardins (Disnat) not to dispose of funds and securities deposited in the accounts of Productions Action Motivation;
• ordered Productions Action Motivation, its President, Yvon Charbonneau, and its representative, André Cloutier, to cease any activity in respect of a transaction in securities.

This decision was rendered because:

• Productions Action Motivation has been distributing investment contracts or debt securities contrary to the Québec Securities Act;
• Productions Action Motivation does not have a prospectus approved by the AMF;
• Productions Action Motivation, Mr. Charbonneau and Mr. Cloutier are not registered as securities dealers or advisers with the AMF, are not registered as a firm and do not hold a representative’s certificate for any of the sectors mentioned in section 13 of the Act respecting the distribution of financial products and services.

If the above-mentioned parties wish to exercise their right to be heard under the Act, the BDRVM will hold a hearing at a date to be agreed upon by the parties.

To read the AMF’s order, please read the appendix to the press release (pdf - 28 KB)This link will open in a new windowUpdated on May 30, 2018Demande de l'agence nationale d'encadrement du secteur financier envers Productions Action Motivation (in French only) published on the AMF web site, under Media Centre/The Autorité's Latest News.

Created under the Act respecting the Agence nationale d'encadrement du secteur financier, the Bureau de décision et de révision en valeurs mobilières (BDRVM) is a tribunal which exercises certain powers prescribed by the Securities Act. The BDRVM is independent of the AMF.

Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l'assurance-dépôts du Québec, the Fonds d'indemnisation des services financiers and the Inspector General of Financial Institutions.

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