August 17, 2009 Securities

Montréal – The Autorité des marchés financiers ("AMF") has launched penal proceedings against Raymond Parent Raymond Parent, the respondent, should not be confused with Raymond Parent, the financial planner and mutual funds dealer attached to National Bank Securities in Lévis, who holds certificate no. 126 036 and is not involved in any such legal proceedings. and Alain Botbol in the Court of Québec (Criminal and Penal Division), in the district of Longueuil, and is seeking total fines in the amount of $271,000.

The AMF has launched 13 charges against Raymond Parent and is seeking fines totalling $169,000 for:

• pursuing activities as a securities dealer and adviser without being registered as such with the AMF, by providing advice and distributing a form of investment governed by the Securities Act (the "Act"), namely, the purchase of units of the Société d’investissement Tempus S.E.C., thereby violating section 148 of the Act, and committing an offence under section 202 (8 charges);
• aiding, by act or omission, the Société d’investissement Tempus S.E.C., with the distribution of a form of investment governed by the Act, without a prospectus for which the AMF has issued a receipt, thereby violating section 11 of the Act, and committing an offence under section 202, with reference to section 208 of the Act (3 charges);
• providing misrepresentations in connection with a transaction in securities by stating that the distribution was guaranteed, thereby committing an offence under section 197(1) of the Act (2 charges).

As for Alain Botbol, he faces 7 charges and the AMF is seeking fines totalling $102,000 for:

• pursuing activities as a securities dealer without being registered as such with the AMF, by distributing a form of investment governed by the Act, namely, the purchase of units of the Société d’investissement Tempus S.E.C., thereby violating section 148 of the Act, and committing an offence under section 202 (1 charge);
• aiding, by act or omission, the Société d’investissement Tempus S.E.C., with the distribution of a form of investment governed by the Act, without a prospectus for which the AMF has issued a receipt, thereby violating section 11 of the Act, and committing an offence under section 202, with reference to section 208 of the Act (5 charges);
• providing misrepresentations in connection with a transaction in securities by stating that the distribution was guaranteed, thereby committing an offence under section 197(1) of the Act (1 charge).

With respect to the offences related to illegal practice and illegal distribution, the AMF is seeking fines that vary from double to triple the minimum penalty prescribed under the Act. As for the offences related to misrepresentations, the AMF is seeking penalties that are ten times more than the minimum penalty prescribed under the Act. In determining the penalties it was seeking, the AMF took into account the harm caused to the victims as well as deterrence and exemplary purposes and the need to protect investors.

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

— 30 —

Information:

Media only:
Sylvain Théberge: (514) 940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337