Renewal of freeze order in respect of Productions Actions Motivation
Decisions and Freeze and cease trade orders Securities
Montréal – On July 21, 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) renewed for a period of 90 days, pursuant to the second paragraph in section 250 of the Securities Act, the initial freeze order issued against Productions Action Motivation on April 22, 2004.
The freeze order relates to funds and securities held by the Caisse Populaire Desjardins Charles-Lemoyne and Desjardins Securities (Disnat).
The order had been issued because:
- Productions Action Motivation has been distributing investment contracts or debt securities in violation of the Securities Act;
- Productions Action Motivation does not have a prospectus approved by the AMF;
- Productions Action Motivation, Yvon Charbonneau and André 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.
To read past press releases issued in connection with this matter, please consult the AMF website, 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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