A Quebec man has pleaded guilty to charges stemming from allegations that he gave investment advice without being registered, the Commission des valeurs mobilières du Québec says.

The CVMQ said Friday that Jean Dussault pled guilty to 10 counts before Judge Léopold Goulet of the Court of Québec (Criminal and Penal Division) at the Longueuil Courthouse. He had been charged with violating the Quebec Securities Act by carrying on business as a dealer without being registered. Dussault was ordered to pay a fine of $10,000.

The CVMQ says that, since 1999, Dussault provided investment advice to investors whose portfolios he was managing and he made recommendations on buying and selling securities. Dussault referred his clients to a discount brokerage firm to open accounts with that firm and he was granted the power to act on their behalf. The CVMQ did not name the brokerage firm.