273.1. Where the Bureau de décision et de révision en valeurs mobilières becomes aware of facts establishing that a reporting issuer, an issuer having made a distribution pursuant to a prospectus exemption under section 43 or prescribed by regulation, or a person registered pursuant to section 148 or 149, has failed to comply with a provision under this Act or a regulation made under its authority, the board may impose an administrative penalty on the offender and have it collected by the Authority.
Where the Bureau de décision et de révision en valeurs mobilières becomes aware of facts establishing that an officer, a director or an insider has, by an act or omission, contravened or assisted a person in contravening a provision of this Act or a regulation thereunder, it may impose an administrative penalty on the officer, director or insider.
The amount of the penalty may in no case exceed $1,000,000.
The amounts collected by the Authority pursuant to this section, if any, shall be paid into a fund established under section 276.4 and allocated to the education of investors or the promotion of their general interest.
2001, c. 38, s. 73; 2002, c. 45, s. 641; O.C. 1366-2003, s. 15; 2004, c. 37, s. 23; 2006, c. 50, s. 87, s. 111.