Tag: Quebec financial regulation

February 19, 2016 BY Maria Nikolova

Quebec's financial regulator not to reward whistleblowers

AMF, the regulatory and oversight body for the financial sector of Canada's Quebec, has announced that it will not offer financial rewards to whistleblowers reporting violations of the laws of the Canadian province. The AMF said its decision comes after a comprehensive analysis of whistleblower programs managed by other regulators, including the U.S. Securities and…

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February 05, 2016 BY Maria Nikolova

HYIP scheme architect gets $1.12 million penalty in Quebec

Quebec court has imposed a fine of CAD 1.54 million (USD 1.12 million) on Alain André Desarzens, an operator of a high-yield investment program. The legal decision comes after an investigation by the Quebec financial markets regulator AMF, which showed that Mr Desarzens was running numerous HYIP promotions online and via emails. He was promising…

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