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Illegal insider trading - Carl Larivière fined over $89,000
Monday, February 01, 2016
Montréal – On December 16, 2015, Judge Éric Downs of the Court of Québec, district of Montréal, ordered Carl Larivière to pay fines totalling $89,776 for illegal insider trading, further to an agreement entered into by the parties.
Stiff penalties for use of privileged information
As well, with respect to the four other charges, he was ordered to pay twice the minimum fine, namely, a total of $40,000, for giving other persons a recommendation to carry out transactions based on the same information that was not disclosed to the public.
This decision is further to the penal proceedings launched by the AMF in August 2015.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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