At the request of Quebec’s Autorité des marchés financiers, the Bureau de décision et de révision en valeurs mobilières issued an order today freezing any transaction in the shares of Olympus United Funds Corp. for failing to file its annual financial statements on time.

On May 2, Olympus United Funds announced that redemptions of units in certain hedge funds managed by Norshield Financial Group had been suspended for an indefinite period.

The AMF says that it has met with the senior executives at Norshield and is reviewing the company’s operations in co-operation with the Ontario Securities Commission and the Mutual Fund Dealers Association to clarify the situation.

“Our primary concern is ensuring that investors are protected,” said AMF president and CEO Jean St-Gelais, who added that the AMF would continue to monitor developments very carefully.