Decisions and Freeze and cease trade orders

On May 6, 2013, the Bureau de décision et de révision ("Bureau") approved an agreement between Sigma Alpha Capital inc. and the Autorité des marchés financiers ("AMF") whereby Sigma Alpha Capital inc. agreed to pay a penalty in the amount of $6,000.

Sigma Alpha Capital inc. is registered as a portfolio manager, a derivatives portfolio manager, an investment fund manager and, since March 21, 2012, an exempt market dealer.

The AMF alleged that Sigma Alpha Capital inc. purported to be an exempt market dealer without being registered as such and illegally pursued activities as an exempt market dealer from March 28, 2011 to February 28, 2012.

These shortcomings, which were noted in the course of an inspection by the AMF of the firm's financial resources in February 2012, were immediately corrected. Taking into account the circumstances as a whole, the AMF agreed to a fine of $6,000 against the firm, and this was approved by the Bureau.