Illegal practice as dealer and aiding with illegal distribution - Penal proceeding against Fernand Plante and Richard Rouillard
Tuesday, May 13, 2014
Montréal – The Autorité des marchés financiers (“AMF”) has launched a penal proceeding against Fernand Plante and Richard Rouillard and has filed a total of four charges for pursuing illegal activities as a dealer and aiding with an illegal distribution. The respondents face a total minimum fine of $12,000.
The AMF investigation revealed that, in September 2003, Fernand Plante solicited an investor for the purpose of purchasing 40,000 shares in Semopac Canada inc., in consideration of $40,000. The president of Semopac at the time was Richard Rouillard.
The investor lost his entire investment of $40,000.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec’s financial sector.
– 30 –