January 12, 2018 Decisions and Freeze and cease trade orders Securities

Montréal – On December 18, 2017, the Financial Markets Administrative Tribunal (the "Tribunal") issued various ex parte orders against David Glazer and Castle Rock D.M.G. Investment Management Inc. ("Castle Rock") in connection with potential misappropriations of funds.

This decision was rendered in view of the investigation by the Autorité des marchés financiers (the "AMF") which alleged that David Glazer misappropriated sums of money belonging to some of his clients, failed to invest the amounts given to him and used the money to pay for some of his personal expenses.

The Tribunal suspended David Glazer's certificate in all sectors for which he was registered, and ordered him to comply with the provisions of the Act respecting the distribution of financial products and services (the "Act'') and to cease acting as a representative within the meaning of the Act or purporting to be one. As well, the Tribunal barred him from acting as a responsible officer of an insurance firm.

The Tribunal also prohibited David Glazer from directly or indirectly engaging in any activity in respect of a transaction in securities and from pursuing activities as a securities adviser; in addition, Castle Rock's registration was suspended in all sectors for which it was registered.

These orders will remain in effect for the duration of the AMF's investigation.

The Tribunal also issued various freeze orders in respect of funds, securities or other assets belonging to David Glazer and Castle Rock. Moreover, the Tribunal ordered David Glazer and Castle Rock not to dispose, directly or indirectly, of funds, securities or other assets that are in their possession or custody, and not to withdraw or appropriate funds, securities or other assets from any other person having them on deposit, under control or in safekeeping on their behalf at any place whatsoever.

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

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