Securities

Montréal – On October 25, 2004, Québec Superior Court Judge Daniel H. Tingley ordered Jean-Pierre Nadeau to appear and testify in connection with an investigation conducted by the Autorité des marchés financiers (the “AMF”), failing which he will be convicted of contempt of court.

With this decision, the Superior Court has upheld the importance of the power to investigate in the securities sector and, in the event of refusal to co-operate, will impose the penalty for contempt of court.

Mr. Nadeau had appeared at the offices of the AMF for interrogation but had refused to answer the questions asked by the investigator and provide the documents required by subpoena.

To read the press releases on this matter issued to date, please consult the AMF website, under Media Centre/Press Releases.

Established on February 1, 2004, the Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l’assurance-dépôts du Québec, the Fonds d’indemnisation des services financiers and the Inspector General of Financial Institutions.

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