Insurance

Montréal - On December 23, 2014, the Bureau de décision et de révision (the "Bureau") handed down a decision further to an agreement entered into between the Autorité des marchés financiers (the "AMF"), Abeco courtier d'assurances inc. and its responsible officer, Diane Fortin, according to which the firm agreed to pay an administrative penalty of $20,000. Ms. Fortin, the responsible officer at Abeco courtier d'assurances inc. at the time of the facts at issue, was prohibited from serving as a firm's responsible officer for one year.

The AMF claimed that Abeco courtier d'assurances inc. and Diane Fortin tolerated illegal practice by Félicien Ngankoy between October 1, 2011 and April 12, 2012, when he was not registered with the AMF to act as a damage insurance broker.