D-9.2 - Act respecting the distribution of financial products and services

Section 115.3 Disposition versions

2024-05-09

115.3. The Authority may, for the purposes or in the course of an investigation, request the Financial Markets Administrative Tribunal

(1)  to order the representative or firm or any other person or entity actually or potentially under investigation not to dispose of funds, securities or other property in their possession;

(2)  to order the representative or firm or any other person or entity actually or potentially under investigation to refrain from withdrawing funds, securities or other property on deposit with or under the control or in the safekeeping of another person; or

(3)  to order any other person or entity not to dispose of funds, securities or other property referred to in subparagraph 2 or of funds, securities or other property acquired for unreasonable consideration from the representative, firm or any other person or entity actually or potentially under investigation.

An order issued under the first paragraph is effective from the time the party concerned is notified of it and, unless otherwise provided, remains binding for a 12-month period; the order may be revoked or otherwise amended during that period.

The party concerned must be given at least 15 days’ notice of any hearing during which the Financial Markets Administrative Tribunal is to consider an extension. The Tribunal may order the extension if the representative, firm, other person or entity does not request to be heard or fails to establish that the reasons for the initial order have ceased to exist.

2011, c. 26, s. 20; 2016, c. 7, s. 179; 2018, c. 23, s. 538; 2024, c. 15, s. 124.

2018-07-13

115.3. The Authority may, for the purposes or in the course of an investigation, request the Financial Markets Administrative Tribunal

(1)  to order the representative or firm or any other person or entity actually or potentially under investigation not to dispose of funds, securities or other property in their possession;

(2)  to order the representative or firm or any other person or entity actually or potentially under investigation to refrain from withdrawing funds, securities or other property on deposit with or under the control or in the safekeeping of another person; or

(3)  to order any other person or entity not to dispose of funds, securities or other property referred to in subparagraph 2.

An order issued under the first paragraph is effective from the time the party concerned is notified of it and, unless otherwise provided, remains binding for a 12-month period; the order may be revoked or otherwise amended during that period.

The party concerned must be given at least 15 days’ notice of any hearing during which the Financial Markets Administrative Tribunal is to consider an extension. The Tribunal may order the extension if the representative, firm, other person or entity does not request to be heard or fails to establish that the reasons for the initial order have ceased to exist.

2011, c. 26, s. 20; 2016, c. 7, s. 179; 2018, c. 23, s. 538.

2016-07-18

115.3. The Authority may, for the purposes or in the course of an investigation, request the Financial Markets Administrative Tribunal

(1)  to order the representative or firm or any other person or entity actually or potentially under investigation not to dispose of funds, securities or other property in their possession;

(2)  to order the representative or firm or any other person or entity actually or potentially under investigation to refrain from withdrawing funds, securities or other property on deposit with or under the control or in the safekeeping of another person; or

(3)  to order any other person or entity not to dispose of funds, securities or other property referred to in subparagraph 2.

An order issued under the first paragraph is effective for a renewable period of 120 days as of the time the party concerned is notified.

The party concerned must be given at least 15 days’ notice of any hearing during which the Financial Markets Administrative Tribunal is to consider an extension. The Tribunal may order the extension if the representative, firm, other person or entity does not request to be heard or fails to establish that the reasons for the initial order have ceased to exist.

2011, c. 26, s. 20; 2016, c. 7, s. 179.

2011-11-30

115.3. The Authority may, for the purposes or in the course of an investigation, request the Bureau de décision et de révision

(1)  to order the representative or firm or any other person or entity actually or potentially under investigation not to dispose of funds, securities or other property in their possession;

(2)  to order the representative or firm or any other person or entity actually or potentially under investigation to refrain from withdrawing funds, securities or other property on deposit with or under the control or in the safekeeping of another person; or

(3)  to order any other person or entity not to dispose of funds, securities or other property referred to in subparagraph 2.

An order issued under the first paragraph is effective for a renewable period of 120 days as of the time the party concerned is notified.

The party concerned must be given at least 15 days’ notice of any hearing during which the Bureau de décision et de révision is to consider an extension. The Bureau may order the extension if the representative, firm, other person or entity does not request to be heard or fails to establish that the reasons for the initial order have ceased to exist.

2011, c. 26, s. 20.