INVESTMENT DEALERS ASSOCIATION OF CANADA THE BY-LAWS OF THE INVESTMENT DEALERS ASSOCIATION OF CANADA ANDRÉ BERGERON NOTICE OF HEARING

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1 This non official translation of the official French version of the originating document is provided solely for public information and should not be relied upon for any legal purposes. INVESTMENT DEALERS ASSOCIATION OF CANADA IN THE MATTER OF: THE BY-LAWS OF THE INVESTMENT DEALERS ASSOCIATION OF CANADA AND ANDRÉ BERGERON NOTICE OF HEARING TAKE NOTICE that, pursuant to Part 10 of By-law 20 of the Investment Dealers Association of Canada ( the Association ), a hearing will be held before a hearing panel ( the Hearing Panel ) on a date to be determined by the Hearing Panel on December 17, 2007, at 10 a.m. or as soon thereafter as a hearing can be heard, at 1 Place Ville-Marie, Suite 2802, Montreal, Quebec. TAKE FURTHER NOTICE that, pursuant to Rule 6.2 of the Association Rules of Practice and Procedure, the hearing shall be designated as on: the Standard Track the Complex Track THE PURPOSE OF THE HEARING is to determine whether André Bergeron ( the Respondent ) has committed the following contraventions that are alleged by the Association: 1. Between November 2001 and May, the Respondent, while employed as a registered representative at Desjardins Securities Inc., a Member firm of the Association, failed to use due diligence to learn and remain informed of the essential facts relative to the identity of 45 new clients, by opening delivery against accounts with Desjardins Securities Inc. for accounts held with B2B Trust without having met the clients, contrary to Regulation (a) read in light of Association By-law Between November 2001 and May, the Respondent, while employed as a registered representative at Desjardins Securities Inc., a Member firm of the Association, engaged in business conduct or practice unbecoming, failed in his duty 1

2 to protect the public and showed wilful blindness, contrary to Association By-law 29.1, by systematically opening 47 new delivery against accounts with Desjardins Securities Inc. for accounts held with B2B Trust, at the request of a third party, without having met or spoken with each of the clients, although he knew or should have known that the circumstances surrounding the new client applications were or could be an indication of suspicious activity or activity contrary to the interests of the clients. 3. Between November 2001 and May, the Respondent, while employed as a registered representative at Desjardins Securities Inc., a Member firm of the Association, engaged in business conduct or practice unbecoming or detrimental to the public interest, contrary to Association By-law 29.1, by acting as a registered representative in 47 off-the-book accounts with B2B Trust, the approximate value of which was equal to $1,418,256, without the knowledge or consent of Desjardins Securities Inc. 4. Between November 2001 and May, the Respondent, while employed as a registered representative at Desjardins Securities Inc., a Member firm of the Association, engaged in business conduct or practice unbecoming or detrimental to the public interest, contrary to Association By-law 29.1, by failing to advise 47 clients for whom he had opened delivery against accounts with Desjardins Securities Inc. for accounts held with B2B Trust, in the following circumstances: (a) (b) upon the purchase of private placements by two of his clients while he was employed as their registered representative and although he knew or should have known that the circumstances surrounding such private placements were or could be an indication of suspicious activity or activity contrary to the interests of the said clients; by holding accounts most of which contained private placements bought by his clients, although he knew or should have known that the circumstances surrounding such private placements were or could be an indication of suspicious activity or activity contrary to the interests of the clients. PARTICULARS TAKE FURTHER NOTICE that the following is a summary of the facts alleged and to be relied upon by the Association at the hearing: 1. Staff of the Association initiated an investigation into the conduct of the Respondent. 2. Such investigation was initiated on October 13, 2005 as a result of a complaint from one of the Respondent s clients for deeds done while employed as a registered representative at Desjardins Securities ( Desjardins ). THE RESPONDENT 2

3 3. The Respondent began his career in the securities industry and held the following posts in a registered capacity: From To Firm Registration August 1985 August 1992 Midland Walwyn Options Representative Capital Inc. (formerly Midland Walwyn) August 1992 November 1993 Alpha Capital Inc. Options Representative November 1993 July 1999 Canaccord Capital Options Representative Inc. (formerly S.M.C. Securities and Whalen Béliveau) July 1999 April 2000 Canaccord Capital Inc. (formerly S.M.C. Securities and Whalen Béliveau) Branch Manager Options Representative April 2000 September 2000 Canaccord Capital Inc. (formerly S.M.C. Securities and Whalen Béliveau) September 2000 September 2001 Rampart Securities Inc. 4. The Respondent resigned from Desjardins in October and has been employed at Union Securities Ltd. since November Since 2004, he has been a branch manager and officer responsible for Union Securities Ltd. s activities in Quebec, particularly the supervision of the opening and administration of client accounts and the supervision of representatives and office staff. THE FACTS Branch Manager Partner, director and officer (vice-president) Options Representative Branch Manager Partner, director and officer (Vice-President) Options Representative December 2001 October Desjardins Securities Options Representative Inc. November November 2003 Unemployed November 2003 To date Union Securities Ltd. Branch Manager Partner, director and officer (vice-president) Options Representative Managing Director for Quebec 5. As mentioned above, the Association s investigation was initiated as a result of a complaint. 6. The complaint relates to the purchase of a private placement in the amount of $34,400 by a client of the Respondent, in such client s locked-in, self-administered account held with B2B Trust. 3

4 7. Such private placement was purchased upon the recommendation of A, a financial planner and mutual fund salesperson (representative code: 2069 and firm code: 9620). He was also self-employed. 8. The complainant had been holding this account with B2B Trust since at least 2001 and, at the time, A was designated as the adviser in the account, as shown in the statements of account of July 1, 2001 to September 30, 2001 and of October 1, In 2001, A asked the Respondent to open a delivery against account with Desjardins for the account held by the complainant with B2B Trust. 10. At no time did the complainant meet the Respondent, whether upon the opening of the delivery against account with Desjardins or thereafter. 11. The documentation relating to the opening of the delivery against account with Desjardins was not completed by the Respondent, except for the signature part. 12. On or about October 31, 2001, a letter on the letterhead of A, a financial planner, signed by B, A s administrative assistant, was addressed to the complainant stating that he was the holder of a B2B Trust plan with investments in an investment club and that changes in the structure of investment clubs, which had switched from a private club structure to a limited partnership structure, required that technical changes be made to the management of the. 13. The letter further stated that the investment club part would be transferred administratively to Desjardins with the collaboration of the Respondent, an investment dealer, and the last paragraph read as follows: Please sign the enclosed document where indicated and return the same to us in the enclosed envelope. This is a B2B Trust form to be signed to allow Mr André Bergeron to administer the accounts of the plans for the investment clubs. 14. Similarly, staff of the Association has come across many forms on the B2B Trust letterhead entitled Non-Financial Changes, which are undated, but all of which are signed by the Respondent and the clients and one of which, more specifically, concerned the complainant. 15. In this form, the complainant designated Desjardins as the dealer and the Respondent as the adviser, with an address at 5 Complexe Desjardins, Suite 247, Montreal, for all accounts held with B2B Trust, and further authorized B2B Trust to carry out the instructions of the Respondent. 16. Desjardins code is 9356 and the Respondent s representative code is P15A. 17. This Non-Financial Changes form was signed by the complainant and by the Respondent and was received by B2B Trust on January 14,, as confirmed 4

5 by a letter dated September 22, 2004 letterhead, addressed to the complainant and signed by the supervisor of the B2B Trust Client Services Department. 18. On or about October 30, 2001, the complainant opened a self-administered account with B2B Trust. 19. On the new client application form, in the section requiring information on the financial adviser, the Respondent is listed as the representative (code P15A) at Desjardins (code 9356) at 5 Complexe Desjardins, Suite 247, Montreal. 20. As appears from the statements of October 1, , of April 1, to June 30,, and of July 1, to September 30, relating to such account, the Respondent is designated as the representative (code P15A) at Desjardins (code 9356) at 5 Complexe Desjardins, Suite 247, Montreal. 21. In the meantime, on or about November 7, 2001, the Respondent opened the complainant s delivery against account with Desjardins for the locked-in, self-administered account held with B2B Trust, without having met or spoken with the complainant. This form was signed by the Respondent on November 13, This account was opened with Desjardins at the request of A. 23. On or about January 29,, the complainant purchased a private placement in his B2B Trust account while the Respondent was his representative. 24. Such investment appears on the four B2B Trust statements of account for. 25. The name of the Respondent as representative as well as his P15A code at Desjardins (code 9356), at 5 Complexe Desjardins, Suite 247, Montreal also appear on such statements of account. 26. On or about April 5,, the Respondent wrote to the complainant on Desjardins letterhead, as follows: Please find enclosed a copy of your new client application form and agreements. I would like to take this opportunity to thank you for having chosen me as your investment adviser. I shall make sure that you are provided with the best financial services and advice in keeping with your objectives. You will also find enclosed a copy of my resume with a detailed description of my qualifications and experience. ( ). 27. On or about November 14,, C, the then Vice-President, Compliance at Desjardins, signed a letter addressed to the complainant stating that his account with B2B Trust had been reassigned to Desjardins at the beginning of the year, without the knowledge and authorization of the management of Desjardins. 5

6 28. The letter further indicated that the information which B2B Trust had transmitted to Desjardins regarding the complainant s account had revealed one or more investments with respect to which Desjardins could neither find the origins nor any markets on which to trade such investments, and Desjardins declined to provide any services whatsoever with respect to such accounts and suggested that the complainant communicate with a representative at B2B Trust. 29. It appears that such private placement was not in the complainant s interest and resulted in a capital loss for the complainant. 30. As regards D, another client, staff of the Association also copies of a letter dated October 31, 2001 on A s letterhead, also signed by B, an administrative assistant, and containing information similar to that addressed to the complainant concerning the administrative transfer of the investment clubs to Desjardins as well as a B2B Trust form, which is undated but signed by the Respondent and the client and which allows the Respondent to administer the plan accounts in the investment clubs. 31. Furthermore as regard this client, staff of the Association came across a letter dated January 24, on the letterhead of A, a financial planner, signed by A, reiterating that the administrative part of the investment clubs would be transferred to Desjardins with the collaboration of André Bergeron and that the client had signed a B2B Trust form to allow Mr Bergeron to administer the plan accounts for the investment clubs. 32. In this letter, A enclosed the Desjardins new client application form: ( ) Unfortunately, we failed to enclose the Desjardins Securities new client application form, which you will find enclosed herewith. ( ). 33. The investigation conducted by the Association has revealed that, in the same period, being the end of 2001 and the beginning, the Respondent had systematically opened delivery against accounts for 46 other clients (apart from the complainant) with Desjardins for accounts with B2B Trust which, for the most part, contained investment club private placements, at the request of A. 34. As regards client E, the private placement in the investment club was purchased in his self-administered RRIF account with B2B Trust while the Respondent was his representative, as was the case for the complainant, as appears from the B2B Trust statement of account for January 1,. 35. The B2B Trust statements of account for all clients designate the Respondent as their representative at Desjardins. 36. The table annexed as Schedule 1 to this Notice of Hearing, which forms an integral part hereof, details the openings of the delivery against accounts with 6

7 Desjardins and contains information on the B2B Trust accounts as well as on the private placements for the 47 clients. 37. It appears from the forms relating to the opening of delivery against accounts with Desjardins that the Respondent failed to meet with 45 of the 47 clients, and that the means of identification chosen for such clients was an identity card, such as a health insurance card or a driver s licence. 38. In fact, for each of these clients in section 11 of the new client application form, the answer to the question of whether the client was met in person is No. 39. However, in the section regarding verification under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, it appears that identification was based on an identity card, being either a driver s licence or a health insurance card. 40. In such cases, an identity check must be made in person from an original document. 41. A majority of the Respondent s clients were referred by A and the applications for account openings with Desjardins were all related to accounts with B2B Trust containing or intended to contain investments in private clubs of which F was the promoter, to the knowledge of the Respondent. 42. In the course of his employ with Desjardins, the Respondent passed himself off as the registered representative for the accounts with B2B Trust with respect to clients for whom he had opened delivery against accounts with Desjardins. 43. For the following clients, account opening forms at B2B Trust, which staff of the Association were able to obtain, designate the Respondent as their adviser with an address at 5 Complexe Desjardins, Suite 247, Montreal, in the section regarding information on the adviser, with representative code P15A (other than the complainant): G, form signed on February 20, H, form signed on January 31, I, form signed on February 4, J, form signed on November 6, 2001 K, form signed on February 11, L, form signed on November 19, 2001 M, form signed on February 27, 44. Furthermore, in the course of the investigation, staff of the Association also came across other forms from B2B Trust entitled Non-financial Changes, which forms are undated but all signed by the Respondent and the clients, as follows: N O P 7

8 Q R S T U V W X Y 45. In these forms, the clients designate Desjardins Securities as the dealer and the Respondent as the adviser, with an address at 5 Complexe Desjardins, Suite 247, Montreal, for all accounts held with B2B Trust, and authorize B2B Trust to carry out the instructions of the Respondent. We find the same representative code and firm code identification. 46. These forms clearly show that adviser A has been replaced by the Respondent in regard to the management of the accounts with B2B Trust. 47. All forms relating to the change of dealer/adviser are duly signed by the client and the Respondent. 48. The B2B Trust statements of account relating to these clients designate the Respondent as the representative of record. 49. As will also be demonstrated at the hearing, Desjardins did not authorize the accounts with B2B Trust to be reassigned to the Respondent in his capacity as registered representative with Desjardins and such reassignment was effected without its knowledge. 50. As will be proved at the hearing, the Compliance Department at Desjardins had agreed to the opening of the 47 delivery against accounts, but it was made clear to the Respondent that all transactions for such clients were to be made solely in Desjardins accounts and on its books. 51. In this regard, the Association will adduce in evidence the transcript of the interview with the then Branch Manager, made on January 25, 2007, by the staff of the Association. 52. Upon discovering that the Respondent was the registered representative with B2B Trust for off-the-book accounts, Desjardins ordered that the relevant delivery against accounts be closed. 53. By mass mailing on November 14,, Desjardins notified all the clients that such reassignment had occurred without its knowledge and consent. 54. The private placements in the investment clubs appear not to have been in the clients interest. 8

9 55. The Association will adduce in evidence a letter signed by the Respondent, dated April 27, 2005 and received on April 29, 2005, addressed to the investigator in this file, which letter stated that F was a promoter, that the Respondent had attended one of his seminars and had not liked it, and that he had never invested his money or that of his clients in any financing scheme organized by F. 56. The Association further intends to adduce in evidence the transcript of the interview with the Respondent made by the staff of the Association on January 23, 2006, in which the Respondent swears under oath and on the record essentially as follows (these statements are summaries only and not complete quotes): The accounts with B2B Trust were orphan accounts the assets of which consisted of investment clubs. The Respondent took such accounts at the request of A, in the hope that the investment clubs would one day become public and be traded on the stock market. The Compliance Department at Desjardins was informed of the opening of the delivery against accounts, but it was made clear that there was to be no off-the-book transaction. He did not know that any other person instructed by the client could trade in the accounts with B2B Trust. He knew that his name appeared on the B2B Trust statements of account. He opened delivery against accounts at the request of A. He knew that there were a lot of investment clubs in the B2B Trust accounts which were more or less related to F and that these clubs were worthless. No trade was made in the delivery against accounts with Desjardins. On the day that the private placements (the Respondent called them garbage ) were to be listed on an exchange, they would become tradable assets. The opening of the accounts with Desjardins allowed him to receive B2B Trust statements of account. He made no recommendations concerning investments in the clubs and says he did not know what was happening in the accounts with B2B Trust. He could not trade in shares over the counter. Desjardins ordered the delivery against accounts to be closed. He was not necessarily the one who completed the new client application forms at Desjardins and, when it says transfer of B2B Trust, it is not really a transfer and the statement is not from him. 9

10 He does not see the significance of his name appearing as a representative on the B2B Trust statements of account. He says that the clients were not enlightened investors; had they been, they would not have gotten involved in that. He says that he could express an opinion on the quality of the promoter F but not on the quality of all the investments and that, in any event, the value and quality of the investments were of no concern to him as they were not traded on an exchange (he used the term not give a damn about the quality and the value of the investments). 57. F was the promoter of the investment club private placements purchased in the accounts with B2B Trust. 58. The Respondent knew F and had met him on several occasions, particularly when attending investor information seminars on private placements, which were organised and hosted by F, among others. 59. A and F were in business together in connection with the private placements. 60. F referred the Respondent to A when investment clubs changed legal structure and became limited partnerships, as a full service representative was then required to be assigned to client accounts with B2B Trust. 61. All the clients for whom the Respondent opened delivery against accounts with Desjardins were first and foremost clients of A. 62. All recommendations to purchase private placements were made to the clients by A as were as the applications for the opening of delivery against accounts with Desjardins. 63. All documentation relating to the opening of delivery against accounts with Desjardins as well as the reassignment of the Respondent as a full service representative for the accounts at B2B Trust and client information were prepared and provided by A. 64. The Respondent showed wilful blindness and thus took part in carrying out a suspicious and dubious activity which proved to be contrary to the interest of his clients. 65. As a result of these events, the Respondent was first suspended, the suspension was then revoked with conditions to be met by the end of and the Respondent finally tendered his resignation in October. 66. In 2007, F was found guilty of 31 offences under the Quebec Securities Act for having assisted investment clubs in the distribution of a form of investment without a prospectus. 10

11 67. The Respondent testified at this trial, particularly as to the fact that he had met F three of four times. 68. The Association will refer to the transcripts of the examinations conducted and testimony given in this case, which are accessible to the public. GENERAL PROCEDURAL MATTERS TAKE FURTHER NOTICE that the hearing and related proceedings shall be subject to the Association s Rules of Practice and Procedure. TAKE FURTHER NOTICE that pursuant to Rule 13.1, the Respondent is entitled to attend and be heard, be represented by counsel or an agent, call, examine and crossexamine witnesses, and make submissions to the Hearing Panel at the hearing. RESPONSE TO NOTICE OF HEARING TAKE FURTHER NOTICE that the Respondent must serve upon the Association a Response to the Notice of Hearing in accordance with Rule 7 within twenty (20) days (for a Standard Track disciplinary proceeding) or within thirty (30) days (for a Complex Track disciplinary proceeding) from the effective date of service of the Notice of Hearing. FAILURE TO RESPOND OR ATTEND HEARING TAKE FURTHER NOTICE that if the Respondent fails to serve a Response or attend the hearing, the Hearing Panel may, pursuant to Rules 7.2 and 13.5: (a) proceed with the hearing as set out in the Notice of Hearing, without further notice to the Respondent; (b) accept as proven the facts and contraventions alleged by the Association in the Notice of Hearing; and (c) order penalties and costs against the Respondent pursuant to By-law 20.33, and PENALTIES & COSTS TAKE FURTHER NOTICE that if the Hearing Panel concludes that the Respondent did commit any or all of the contraventions alleged by the Association in the Notice of Hearing, the Hearing Panel may, pursuant to By-law and By-law 20.34, impose any one or more of the following penalties: 11

12 Where the Respondent is/was an Approved Person: (a) a reprimand; (b) a fine not exceeding the greater of: (i) (ii) $1,000,000 per contravention; and an amount equal to three times the profit made or loss avoided by such Approved Person by reason of the contravention. (c) suspension of approval for any period of time and upon any conditions or terms; (d) terms and conditions of continued approval; (e) prohibition of approval in any capacity for any period of time; (f) termination of the rights and privileges of approval; (g) revocation of approval; (h) a permanent bar from approval with the Association; or (i) any other fit remedy or penalty. Where the Respondent is/was a Member firm: (a) a reprimand; (b) a fine not exceeding the greater of: (i) (ii) $5,000,000 per contravention; and an amount equal to three times the profit made or loss avoided by the Member by reason of the contravention; (c) suspension of the rights and privileges of the Member (and such suspension may include a direction to the Member to cease dealing with the public) for any period of time and upon any conditions or terms; (d) terms and conditions of continued Membership; (e) termination of the rights and privileges of Membership; (f) expulsion of the Member from membership in the Association; or (g) any other fit remedy or penalty. 12

13 TAKE FURTHER NOTICE that if the Hearing Panel concludes that the Respondent did commit any or all of the contraventions alleged by the Association in the Notice of Hearing, the Hearing Panel may, pursuant to By-law 20.49, assess and order any investigation and prosecution costs determined to be appropriate and reasonable in the circumstances. DATED at Montreal on this 21 st day of November CARMEN CREPIN VICE-PRESIDENT, QUEBEC INVESTMENT DEALERS ASSOCIATION OF CANADA 1 PLACE VILLE-MARIE, SUITE 2802 MONTREAL, QUEBEC H3B 4R4 TELEPHONE: FAX:

14 Summary Table - Schedule to the Notice of Hearing to constitute an integral part thereof Client of DS Opening Closing Date with DS Date with DS (client signature) Referral for Opening with DS Identification Method with DS Face to Face Meeting with Client upon Opening Type of with Desjardins Investment Objectives and Risk Factors Type of Plan Investment Risk Factors on DS Objectives with DS Form Investment with DS Book Value of the Total Book Value Date of Client of the on B2B Trust s of B2B Trust that Also Show André Bergeron Acting as IA Type of with B2B Trust Letter Sent to Client of DS indicating that had been Opened without DS' Copy and Date of Opening with B2B Trust. Also indicates that Bergeron is the IA Change of IA Form of B2B Trust from «A» to André Bergeron Investment made in the Investment Club while Respondent was Registered as IA of the Client «Z» May 7, August 21, Empty SAAQ Empty Delivery upon Registered plan 100% Growth «Y» February 22, No confirmation from DS Nil NA NA NA No statement received «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $42, $46, October 1, «N» February 27, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $24, $24, October 1, «AA» February 7, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Nil $21, $21, October 1, «G» February 20, No confirmation from DS «A» SAAQ No Delivery upon Regular 100% Growth 100% medium Good $0.00 No balance $0.00 January 1, No statement LOCKED-IN LOCKED-IN - spouse «R» February 25, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $6, $6, October 1, SELF «BB» January 18, August 21, «A» RAMQ No Delivery upon «H» January 31, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $34, s $34, January 1, and October 1, Registered plan 100% Growth 100% medium Good $0.00 No balance $0.00 January 1, «T» January 17, August 21, «A» SAAQ Empty Delivery upon Registered plan 100% Growth 100% medium Good $28, $28, October 1, «CC» January 31, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $16, $16, January 1, and October 1, «I» November 6, 2001 August 21, «A» Confirmed with financial institution No Delivery upon Regular «DD» February 7, August 21, «A» SAAQ No Delivery upon Regular 100% Growth 100% medium Limited $0.00 Balance - cash $21, January 1, and October 1, 100% Growth 70% medium 30% high Limited $0.00 No balance $0.00 October 1, «O» February 17, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $93, $93, October 1, «Q» January 22, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $9, $9, October 1, LOCKED-IN November 14, November 14, Copy November 14, Copy November 14, No letter because no February 20, private placement was made November 14, Copy November 14, No letter because no January 31, private placement was made November 14, Copy November 14, No letter because no November 6, 2001 private placement was made No letter because no private placement was made November 14, November 14, Copy Page 1 of 5

15 Summary Table - Schedule to the Notice of Hearing to constitute an integral part thereof Client of DS Opening Closing Date with DS Date with DS (client signature) Referral for Opening with DS Identification Method with DS Face to Face Meeting with Client upon Opening Type of with Desjardins Investment Objectives and Risk Factors Type of Plan Investment Risk Factors on DS Objectives with DS Form Investment with DS Book Value of the Total Book Value Date of Client of the on B2B Trust s of B2B Trust that Also Show André Bergeron Acting as IA Type of with B2B Trust Letter Sent to Client of DS indicating that had been Opened without DS' Copy and Date of Opening with B2B Trust. Also indicates that Bergeron is the IA Change of IA Form of B2B Trust from «A» to André Bergeron Investment made in the Investment Club while Respondent was Registered as IA of the Client «EE» January 3, August 21, Empty RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $22, $22, January 1, and October 1, «FF» January 10, No confirmation from DS «A» (his spouse) RAMQ No Delivery upon «GG» February 7, August 21, «A» SAAQ No Delivery upon «HH» November 7, 2001 August 21, «ZZ» Confirmed with financial institution No Delivery upon «II» January 5, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth «V» January 2, No confirmation from DS «A» SAAQ No Delivery upon Regular «JJ» February 4, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth «E» January 31, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Limited $10, $10, January 1, and October 1, Registered plan 100% Growth 100% medium Good $78, $93, October 1, Registered plan 100% Growth 100% medium Good $34, $34, January 1, and October 1, 100% Growth Limited $15, $15, January 1, Good $6, s $6, October 1, LOCKED-IN - spouse Good $78, $78, October 1, SELFto December 31, Registered plan 100% Growth 100% medium Limited $58, $61, January 1, and October 1, «K» February 11, August 21, Empty RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $0.00 Other investments «KK» February 19, apr 8, «A» SAAQ No Delivery upon Registered plan/ Regular +K36 «LL» January 22, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth «U» January 23, No confirmation by DS «A» RAMQ No Delivery upon $5, January 1, and October 1, 100% Growth 100% medium Good $17, s $18, October 1, RRIF - spouse Good $43, s $43, January 1, and October 1, Registered plan 100% Growth 100% medium Good $5, $5, October 1, November 14, November 14, and December 16, November 14, November 14, October 30, 2001 Copy Yes November 14, and December 16, November 14, Copy November 14, November 5, and November 14, No letter because no February 11, private placement was made November 14, November 14, Yes Firm has omitted to Copy indicate account number on the letter «U» January 23, No confirmation by DS «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $8, $8, October 1, LOCKED-IN November 14, Copy Page 2 of 5

16 Summary Table - Schedule to the Notice of Hearing to constitute an integral part thereof Client of DS Opening Closing Date with DS Date with DS (client signature) Referral for Opening with DS Identification Method with DS Face to Face Meeting with Client upon Opening Type of with Desjardins Investment Objectives and Risk Factors Type of Plan Investment Risk Factors on DS Objectives with DS Form Investment with DS Book Value of the Total Book Value Date of Client of the on B2B Trust s of B2B Trust that Also Show André Bergeron Acting as IA Type of with B2B Trust Letter Sent to Client of DS indicating that had been Opened without DS' Copy and Date of Opening with B2B Trust. Also indicates that Bergeron is the IA Change of IA Form of B2B Trust from «A» to André Bergeron Investment made in the Investment Club while Respondent was Registered as IA of the Client «D» February 1, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth «S» January 17, August 21, «A» RAMQ No Delivery upon Good $24, $25, January 1, and October 1, Registered plan 100% Growth 100% medium Good $11, $11, October 1, «S» January 17, November 19, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $56, $56, October 1, «X» January 10, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth «NN» January 10, No confirmation from DS «W» January 14, No confirmation from DS «A» RAMQ No Delivery upon Registered plan 100% Growth Empty SAAQ No Delivery upon Registered plan 100% Growth 31 «OO» (firm May 3, June 27, Empty SAAQ No Delivery upon Registered plan 100% Growth confirms that the account has been opened by phone) Good $45, $45, January 1, and October 1, LOCKED-IN - spouse Good $46, $46, January 1, and October 1, Good $10, $10, January 1, and October 1, Empty NA NA NA No statement received «PP» January 24, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $97, $97, January 1, SELF and October 1, LOCKED-IN «L» November 19, 2001 August 21, Referral RAMQ No Delivery upon Registered plan 100% Growth 100% medium Limited $0.00 No investment indicated «M» February 27, August 21, «A» RAMQ No Delivery upon Investment account «QQ» January 4, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% Growth 100% medium Good $0.00 No investment indicated No statement received $17, January 1, and October 1, LOCKED-IN $15, January 1, and October 1, Good $43, $43, January 1, and October 1, November 14, November 14, Copy November 14, Copy November 14, Copy November 14, November 14, Copy Closed on June 27,. No letter. November 14, November 14, November 19, 2001 November 14, February 27, November 14, Page 3 of 5

17 Summary Table - Schedule to the Notice of Hearing to constitute an integral part thereof Client of DS Opening Closing Date with DS Date with DS (client signature) Referral for Opening with DS Identification Method with DS Face to Face Meeting with Client upon Opening Type of with Desjardins Investment Objectives and Risk Factors Type of Plan Investment Risk Factors on DS Objectives with DS Form Investment with DS Book Value of the Total Book Value Date of Client of the on B2B Trust s of B2B Trust that Also Show André Bergeron Acting as IA Type of with B2B Trust Letter Sent to Client of DS indicating that had been Opened without DS' Copy and Date of Opening with B2B Trust. Also indicates that Bergeron is the IA Change of IA Form of B2B Trust from «A» to André Bergeron Investment made in the Investment Club while Respondent was Registered as IA of the Client «P» January 7, August 21, Empty RAMQ No Delivery upon Regular 100% Growth «J» February 4, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $0.00 Other investments «RR» February 6, August 21, Empty SAAQ No Delivery upon «MM» February 26, August 21, «A» SAAQ Yes Delivery upon Limited $48, $48, January 1, and October 1, $14, January 1, and October 1, Registered plan 100% Growth 100% medium Good $12, $12, January 1, and October 1, Registered plan 100% Growth 100% medium Good $47, s $47, October 1, - spouse November 14, Copy November 14, February 4, November 14, November 14, «MM» February 26, October 28, 2003 «A» SAAQ Yes Delivery upon Registered plan 100% Growth 100% medium Good $14, $14, October 1, LOCKED-IN Firm has omitted to indicate account number on the letter «SS» April 23, August 21, «F» SAAQ Yes Delivery upon Registered plan 100% Growth Limited NA NA NA No statement «O» March 5, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Good $20, $20, October 1, SELF «TT» March 4, August 21, «A» RAMQ Yes Delivery upon «UU» January 18, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth «VV» February 18, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth 100% medium Good $33, $33, October 1, No statement Good $63, $63, January 1, and October 1, Registered plan 100% Growth 100% medium Limited $51, s $59, October 1, No letter because no private placement was made November 14, Copy November 14, November 14, November 14, «WW» January 29, August 21, «A» RAMQ No Delivery upon Registered plan 100% Growth 100% medium Limited $13, $13, January 1, and October 1, November 14, Page 4 of 5

18 Summary Table - Schedule to the Notice of Hearing to constitute an integral part thereof Client of DS Opening Closing Date with DS Date with DS (client signature) Referral for Opening with DS Identification Method with DS Face to Face Meeting with Client upon Opening Type of with Desjardins Investment Objectives and Risk Factors Type of Plan Investment Risk Factors on DS Objectives with DS Form Investment with DS Book Value of the Total Book Value Date of Client of the on B2B Trust s of B2B Trust that Also Show André Bergeron Acting as IA Type of with B2B Trust Letter Sent to Client of DS indicating that had been Opened without DS' Copy and Date of Opening with B2B Trust. Also indicates that Bergeron is the IA Change of IA Form of B2B Trust from «A» to André Bergeron Investment made in the Investment Club while Respondent was Registered as IA of the Client 47 «XX» January 22, August 21, «A» SAAQ No Delivery upon Registered plan 100% Growth Good $11, $11, January 1, and October 1, - spouse November 14, Page 5 of 5