News Release

Vancouver – The B.C. Securities Commission has banned a 17-year veteran in the securities industry from the securities markets for five years after he admitted he sold speculative securities that were unsuitable for his clients.

Alain Germain Chevalier was a registered representative with Moneywatch Consultants Ltd. when he recommended or sold “risky, illiquid and speculative” securities to 18 of his clients. Chevalier did so when:
· The speculative securities did not meet his clients’ investment needs, objectives or risk tolerance, or
· He recommended borrowing as a strategy that further increased the risks for his clients, and
· He did not ensure that they understood the risk and true nature of their investments.

The unsuitable products that Chevalier sold his clients included:
· Investments in Multimetro Mortgage Corp. which raised money for real estate developments by dividing a mortgage into units that were sold to the public
· Unsecured “corporate bonds” offered by Megale Capital Corp.

As part of his settlement, Chevalier must pay $15,000 to the commission.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the settlement can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Michael Bernard at 604-899-6524.