Quebec’s financial services regulator, the Autorité des marchés financiers, reports that Hugues Carrier has pleaded guilty to nine counts of securities law violations.

The original charges were brought against him by the Quebec Securities Commission (the securities regulator which is now part of the AMF).

Carrier pleaded guilty to four counts of helping a company to distribute its shares without the company having a prospectus; and, five counts of having carried on business as a dealer without being registered.

The guilty plea was delivered on February 11 at the Montral Courthouse. In response, Judge Yves Morier of the Court of Québec, Criminal and Penal Division, ordered him to pay a total fine of $12,000 within a period of 30 months.

On March 9, at the Longueuil Courthouse, Carrier also pleaded guilty to five counts brought against him by the QSC. He was ordered by Judge Léopold Goulet to pay a total fine of $13,000 within a period of 30 months.