May 2, 2014 Insurance

An administrative agreement approved by the Bureau de décision et de révision was reached recently between the Autorité des marchés financiers (AMF) and Charles K. Langford inc. whereby the firm undertook to pay administrative penalties in the amount of $14,000.

Defaults by Charles K. Langford inc. were noted in the course of two inspections conducted by the AMF in 2009 and 2012. The AMF blamed the firm for failing to purchase insurance as stipulated in Regulation 31-103. As well, Charles K. Langford failed to comply with the requirements pertaining to record keeping and to disclose to the AMF a change to information within seven days following the change.