Quebec's securities regulator is investigating a former executive assistant to a senior officer of BCE Inc. over allegations of insider trading that netted her family and friends $1 million between 2012 and 2015.
The Autorité des marchés financiers (AMF) recently executed search warrants and obtained freeze and cease-trade orders against Renée Morier, who used to work at BCE as an executive assistant to an unnamed "senior officer" of the telecommunications giant.
The regulator noted in a release that the investigation does not target BCE itself, a company that the AMF makes clear is "fully co-operating with the investigation."
The regulator alleges that Morier was giving privileged information related to the acquisition of Glentel Inc., Bell Aliant and Astral Media Inc., to certain family members and friends.
"These individuals then used this information to trade in the securities of these companies and generate a profit of more than $1 million," the regulator said.
The freeze and cease-trade orders have been issued against Morier, her spouse Sylvain Milette, her parents Marie Fenez and Raymond Morier, a friend (Francis Beauchamp) and his parents (Jeanne Brulé and Alain Beauchamp) and various companies administered by some of them.