A Quebec court has upheld $285,000 in fines to two individuals and a numbered company following an investigation by the Autorité des marchés financiers (AMF).
Roch Rivard, who was registered with the AMF to sell personal insurance, was found guilty of multiple counts of carrying on an illegal brokerage business and selling investments without a prospectus, an AMF release said. He was fined $240,000.
Between 2009 and 2013, Rivard solicited investments from four clients through the numbered company 9110-9058 Québec inc., owned by Yannick Rivard, the AMF said. Rivard received a $12,000 fine and the numbered company was fined $33,000.