NSSC fines FPE Trading $165,000

SFC fines

The Nova Scotia Securities Commission announced earlier today that it has ordered Jean-Smaille Germeil and FPE Trading to pay an administrative penalty of $150,000, as well as to cover all the costs in connection with the investigation and conduct of this proceeding before the Commission in the amount of $15,000.

Germeil and FPE Trading have repeatedly violated the Nova Scotia Securities Act.

The Commission has also ordered Germeil and FPE Trading to:

  • comply with and cease contravening Nova Scotia securities laws,
  • permanently cease trading in securities of any issuer, other than securities beneficially owned by Germeil and FPE Trading,
  • be permanently prohibited from replying on any or all of the exemptions contained in Nova Scotia securities laws,
  • be permanently prohibited from becoming or acting as a director or officer of an issuer,
  • be permanently prohibited from becoming or acting as a registrant, investment fund manager, or promoter,
  • be reprimanded.

The official announcement can be seen here.

Read Also: