The Nova Scotia Securities Commission announced earlier today that it has ordered Jean-Smaille Germeil and FPE Trading to pay an administrative penalty of $150,000, as well as to cover all the costs in connection with the investigation and conduct of this proceeding before the Commission in the amount of $15,000.
Germeil and FPE Trading have repeatedly violated the Nova Scotia Securities Act.
The Commission has also ordered Germeil and FPE Trading to:
- comply with and cease contravening Nova Scotia securities laws,
- permanently cease trading in securities of any issuer, other than securities beneficially owned by Germeil and FPE Trading,
- be permanently prohibited from replying on any or all of the exemptions contained in Nova Scotia securities laws,
- be permanently prohibited from becoming or acting as a director or officer of an issuer,
- be permanently prohibited from becoming or acting as a registrant, investment fund manager, or promoter,
- be reprimanded.
The official announcement can be seen here.