Montréal – The Autorité des marchés financiers (AMF) has instituted penal proceedings against Louis Thompson in the Court of Québec (Criminal and Penal Division), district of Laval.
In its suit against Louis Thompson, the AMF has filed 136 charges and is seeking $204,000 in fines for:
- pursuing activities as an insurance of persons representative without being registered as such with the AMF, thereby contravening section 461 of the Act respecting the distribution of financial products and services (the “Act”), with reference to sections 3, 12 and 485 thereof (33 counts);
- receiving commission from a firm for selling a financial product, without being a person contemplated under section 100 of the Act, thereby contravening section 467 thereof, with reference to sections 3, 12 and 485 of the Act (103 counts).
Given the number of victims, the numerous violations, and the need for general deterrence, the AMF is seeking three times the minimum fines prescribed by law.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: (514) 940-2176
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