The Autorité des marchés financiers says it has suspended the registration of Champoux, Froment et associés inc.

The AMF says that it made the move because, it alleges: the firm made misrepresentations or representations that were likely to be misleading; that its president, director and majority shareholder “interfered in an abusive manner in the investigation undertaken in the matter of Mount Real Corp. and hindered progress in the matter to the detriment of investors”. It also alleges that the firm failed to act with honesty and loyalty in its dealings with clients. None of these allegations have been proven.

The regulators claims that on February 7, the firm’s president sent an e-mail to investors urging them not to respond to the provisional administrator appointed by the Minister of Finance to administer the assets of a number of companies, including Mount Real and VM iForum inc.

“If Champoux, Froment et associés fails to present satisfactory observations in writing with respect to the above allegations within 15 days of the decision, its registration in all sectors will be permanently cancelled,” the AMF says.

The AMF notes that Champoux, Froment et associés inc. was registered in the insurance and group insurance sectors.