Decisions and Freeze and cease trade orders
Montréal - On June 9 and 13, 2016, at the request of the Autorité des marchés financiers (the "AMF"), the Bureau de décision et de révision (the "Bureau") issued ex parte prohibition orders aimed at stopping solicitation activities carried out mainly via social media targeting a young clientele. The orders were issued against the U.S. firm International Markets Live, Inc. (iMarkets), Christopher Terry, Daniel Westby, Antoine Bouthillier, Antoine Charbonneau,The respondent Antoine Charbonneau should not be confused with Antoine Charbonneau Genest who holds certificate 209659 in insurance of persons and is attached to IG Insurance Services Inc. and registered as a mutual fund dealing representative with Investors Group Financial Services Inc. Maxime Robichaud, Charley Wion, Étienne Champagne, Alexandro Garcia, Marc-Antoine Bourbonnais, Finance Stratex inc., Simon Brisebois,The respondent Simon Brisebois should not be confused with Simon Daniel Brisebois who is registered as a mutual fund dealing representative with TD Investment Services Inc. Samuel Jacques and Makir Volcy.
The publication of this press release constitutes the method of service authorized by the Bureau in connection with the decision (pdf - 3 MB)This link will open in a new window (in French only) issued against Maxime Robichaud.
Illegal solicitation and unrealistic predictions
The AMF's investigation shows that iMarkets was allegedly soliciting Québec investors via several platforms by promising unrealistic profits. The information made available to the public was incomplete and unorganized and did not enable investors to make informed investment decisions.
In addition, it appears that iMarkets and Christopher Terry were acting as derivatives advisers without being registered as such with the AMF. Also, all the respondents were acting as derivatives and securities dealers without being registered as such with the AMF. Lastly, the respondents allegedly distributed an investment contract without a prospectus approved by the AMF or an exemption.
With its decision, the Bureau is prohibiting all the respondents from carrying out any activity for the purpose of trading in derivatives and securities, other than for themselves, through a registered dealer.
Illegal on-line solicitation must stop
The AMF's investigation also shows that the respondents allegedly used social media and several websites to target a young, vulnerable clientele. The Bureau therefore ordered the respondents to remove all information or publications concerning derivatives or securities posted on social media sites, including Facebook, YouTube, Instagram and Snapchat, or distributed via other means, within five days of the decision.
The Bureau also prohibited iMarkets and Christopher Terry from acting as derivatives advisers and ordered them to block all access to the websites www.imarketslive.com and www.fxsignalslife.com so that Québec residents are unable to consult these sites.
Lastly, the Bureau ordered Daniel Westby to shut down www.harmonicbrothers.com, Étienne Champagne to shut down www.a1vision.net and www.a1university.com, Simon Brisebois to shut down www.stratexfinance.com, Samuel Jacques to shut down www.jeunestraders.com, and Makir Volcy to shut down www.volcytech.com.
The AMF reminds young people that its TesAffaires.com website contains tips on avoiding social media fraud This link will open in a new window.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
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