Supreme Court dismisses motion by Paul Gagné

Securities Decisions and Freeze and cease trade orders

Montréal – In a decision handed down on March 5, 2009, Judges Louis LeBel, Marie Deschamps and Thomas Albert Cromwell of the Supreme Court of Canada dismissed, with costs, a motion filed by Paul Gagné to overturn the decision issued by the Québec Court of Appeal in August 2008.

Paul Gagné sought to overturn, in a court of third and final instance, his conviction for lack of integrity and competence and the suspension of his rights as a securities adviser for five years, a decision initially issued in April 2004 by the Bureau de décision et de révision en valeurs mobilières.

The Autorité des marchés financiers (AMF) also launched a penal proceeding in the Court of Québec against Paul Gagné in November 2006. He was accused of violating a decision dated July 3, 2002 ordering him not to withdraw funds belonging to TIP Funds Canada Ltd. The AMF is seeking a total fine in the amount of $20,000.

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

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