Last updated: March 5, 2026
Published: March 30, 2009
Decisions and Freeze and cease trade ordersSecurities

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.

Update

On February 3, 2012, the Honourable Michel Belhumeur, J.C.Q., ordered a stay of the proceedings in the penal proceeding instituted against Paul Gagné. The AMF appealed this decision to the Superior Court, which dismissed the appeal and upheld the judgment rendered by the Honourable Michel Belhumeur. The application for leave to appeal the decision to the Court of Appeal of Québec was also dismissed.

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

Additional news