The Quebec Securities Commission says Palos Trading Fund L.P., Gestion Palos Inc. and Hubert Marleau have agreed to cease acting as dealers.

Marleau was one of the founders of brokerage firm, Marleau Lemire Inc. that ultimately shuttered its business and changed its name to Peelbrooke Capital
Inc. back in 1998.

The parties also agreed to cease distributing units of the Palos Trading Fund, L.P., until Gestion Palos Inc and Marleau become registered with the QSC.

The firms agreed to wait following a meeting with the QSC on November 18.