Solicitation of investors on the Internet - Alexandre Migneault Ordered to Cease Activities

Montréal - On December 6, 2012, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision (the "Bureau") ordered Alexandre Migneault to cease acting as a securities and derivatives adviser, including through advertisements published on the Internet, and ordered him to cease any activity in respect of a transaction in securities or derivatives.

Mr. Migneault recently attempted to find people seeking to invest their money through advertisements published on the Internet, and purported to be a "high yield investment agent" even though he was not registered to act as a securities or derivatives adviser.

Additional details about the investment methods proposed by Mr. Migneault were obtained by an AMF investigator using a false identity, including that the investment would consist of a series of loans divided up among small businesses in Belarus and investments in foreign currencies. Mr. Migneault allegedly asked the investigator to keep the details about the investment confidential and said that several clients had invested in his scheme.

To ensure compliance with the law and protect the public, the Bureau also ordered the removal of any similar advertisement which Alexandre Migneault may have published.

Reminder to investors
In its most recent awareness campaign, This link will open in a new window (in French only), the AMF reminds consumers that it is important to check whether the person offering an investment product is authorized to do so by consulting the Register of firms and individuals authorized to practise that is available on the AMF's website.

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

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