AMF and Les entreprises Antonio Laporte & fils inc. reach an agreement
Insurance Decisions and Freeze and cease trade orders
An agreement has been reached by the Autorité des marchés financiers (the "AMF") and Les entreprises Antonio Laporte & fils inc. (Antonio Laporte) whereby a $10,000 administrative fine has been paid for failures related to the distribution of a damage insurance product.
The AMF claimed that Antonio Laporte distributed on at least seven occasions damage insurance policies through employees who were not registered with the AMF for such purpose. The insurance products in question were not intended for distribution without a representative.
Antonio Laporte has ceased distributing the damage insurance product covered by the agreement.