Quebec securities regulator Autorité des marchés financiers is seeking to suspend the registration of Groupe Capital Kaufmann inc, alleging that the firm failed to meet the requirements for registration.

The AMF says that it’s requesting that the Bureau de décision et de révision en valeurs mobilières cancel the registration of Kaufmann and impose an administrative penalty on the firm for failing to comply with legal requirements.
The AMF claims Kaufmann:

  • was late in paying its registration fees, which resulted in the suspension of its right to practice on February 1;
  • does not possess required working capital; and
  • failed to register with the National Registration Database despite its obligation to do so by January 15.

“The AMF is therefore requesting that the BDRVM revoke the rights granted by registration to Kaufmann and impose on Kaufmann an administrative penalty in the amount of $250 per day for failure to register with NRD,” it says.