A panel of the New Brunswick Securities Commission (NBSC) has issued orders against four individuals as part of an ongoing investigation into alleged illegal distributions.

The parties had previously consented to the terms of the orders, so no hearing was necessary, the NBSC says.

The orders deny the respondents — Pierre Emond, Armel Drapeau, Jules Bossé, and Robert Saintonge — all exemptions under New Brunswick securities law until otherwise ordered by the NBSC. None of the respondents is registered with the NBSC.

The orders were issued in response to a motion filed by staff of the commission on August 19 August. The motion alleged that the respondents were involved in the promotion of securities issued by Centre de traitement d`information de crédit (CTIC) and CITCAP Groupe Financier in New Brunswick.

The orders prohibit the respondents from selling or advising on any securities transactions until further order from the NBSC.

IE