Special method of service - Prohibition orders against Patrick Kerkhoven, Pank Trading Capital Inc. and M5 Forex Method Inc. Français
MONTRÉAL, July 14, 2020 /CNW Telbec/ - The publication of this news release by the Autorité des marchés financiers ("AMF") constitutes one of the special methods of service authorized by the Financial Markets Administrative Tribunal ("Tribunal") of a decision issued on June 30, 2020 (in French only) against Patrick Kerkhoven, Pank Trading Capital Inc. and M5 Forex Method Inc.
Following an ex parte hearing, the Tribunal ordered Patrick Kerkhoven, Pank Trading Capital Inc. and M5 Forex Method Inc. to, among other things, cease from directly or indirectly engaging in any activity in respect of:
- a transaction on any derivative to which the Derivatives Act applies;
- a securities transaction in any form of investment subject to the Securities Act.
Moreover, the Tribunal prohibited Patrick Kerkhoven, Pank Trading Capital Inc. and M5 Forex Method Inc. from carrying on business as an adviser and dealer, as defined in the Derivatives Act and the Securities Act.
The Tribunal also ordered Patrick Kerkhoven not to dispose, directly or indirectly, of the funds, securities or other assets in his possession or under the control or in the safekeeping of another person.
The Tribunal's decision was issued in the context of an ongoing investigation into Patrick Kerkhoven, Pank Trading Capital Inc. and M5 Forex Method Inc., among others. To date, the investigation has revealed that Patrick Kerkhoven, personally and/or through Pank Trading Capital Inc. and M5 Forex Method Inc., allegedly distributed investment contracts to the public without a prospectus and carried on business as an adviser and dealer within the meaning of the Derivatives Act and the Securities Act without holding the necessary registrations with the AMF.
The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.
Information:
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SOURCE Autorité des marchés financiers
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