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Aiding with illegal distribution - Daniel Boivin fined $10,000

Friday, November 02, 2012

Montréal – On October 23, 2012, Justice of the Peace Gilles Michaud of the Court of Québec, district of Montréal, ordered Daniel Boivin1 to pay fines totalling $10,000.

Daniel Boivin pleaded guilty to two counts of aiding with an illegal distribution that were brought against him by the Autorité des marchés financiers (the “AMF”) in 2009.

In October 2003, Daniel Boivin was struck off the roll for a period of 10 years by the Commission des valeurs mobilières du Québec (Québec securities commission) and he was ordered to cease trading in securities and acting as an adviser in December 2009. As well, a penal proceeding was launched against him by the AMF in August 2010. It consists of 14 charges whereby the AMF is seeking $84,000 in fines.

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

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1 The respondent Daniel Boivin should not be confused with damage insurance representative Daniel Boivin, who is attached to Promutuel in Rigaud and holds certificate no. 103 820, nor with mutual fund dealing representative Daniel Boivin, who is attached to CIBC Securities Inc. in Chibougamau, NRD no. 2812411, who are not affected by this decision.