Decisions and Freeze and cease trade orders Insurance

Montréal – The Autorité des marchés financiers (“AMF”) issued a decision on April 30, 2008 against insurance broker Courtage d’assurance Claude Hétu inc. under section 115 of the Act respecting the distribution of financial products and services, R.S.Q. c. D-9.2 (the “Act”).

Under the decision, the brokerage firm was ordered to pay a penalty in the amount of $3,000 after it finally filed financial statements for fiscal 2004-2005 further to a notice served by the AMF dated November 27, 2006 under section 117 of the Act, despite repeated requests from the Chambre de l’assurance de dommages and the AMF and an undertaking made by the firm on  13, 2006.

The Autorité des marchés financiers (“AMF”) is the regulatory and oversight body for Québec’s financial sector.

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