Montréal - The Autorité des marchés financiers (the "Authority" or the "AMF") today announced that it has revoked the authorization to enter into a public contract or subcontract granted to Informatique EBR inc. further to the arrests conducted on March 11, 2015 by anti-corruption squad UPAC.
Immediately following these arrests, the AMF began to review the authorizations granted to the two firms involved, Informatique EBR inc. and IBM Canada Ltd., pursuant to An Act respecting contracting by public bodies (the "Act").
The AMF wishes to stress that at the time it granted authorizations to Informatique EBR inc. and IBM Canada Ltd., it was not aware of any factors regarding the individuals subsequently arrested by UPAC that would have affected its decision. Under the Act, when new factors become known, the AMF may immediately review the authorization granted to a firm. The Act also provides that, if urgent action is required or irreparable harm is to be prevented, the AMF may immediately revoke a firm's authorization, as it has done with Informatique EBR inc.
"As soon as we were notified of new facts in this matter, we took decisive and immediate action," said AMF President and CEO Louis Morisset. "I wish to thank Martin Coiteux, Minister responsible for Government Administration and Ongoing Program Review and Chair of the Conseil du trésor, and Carlos J. Leitão, Minister of Finance, for their confidence in the AMF's enforcement of the Act," added Mr. Morisset.
IBM Canada's file is still under review. In order to determine whether or not there are grounds to revoke its authorization, the AMF has asked it for additional information to clarify the situation, in particular with respect to the roles of the individuals arrested, and to enable UPAC to carry out the necessary audits.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.
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