Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding against Luc Desjardins.The respondent should not be confused with Luc Desjardins, who holds a certificate in financial planning (158 539) and is registered as a dealing representative (mutual fund dealer - NRD 1795331) with National Bank Securities, or with Luc Desjardins, who holds a certificate in insurance of persons (181 435) with National Bank Insurance Firm. The AMF has brought one charge against Luc Desjardins for influencing or attempting to influence the market price or the value of securities by means of unfair, improper or fraudulent practices. It is seeking a fine of $22,450.

According to the AMF investigation, Luc Desjardins conducted a number of fictitious transactions on the securities of a mining company between his own tax-free savings account (TFSA) and the brokerage account of CVM, a construction company based in Témiscamingue under his control. Luc Desjardins controlled the holdings in the seller's brokerage account and those in the buyer's account.

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

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