May 14, 2014 Insurance

Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding against Carol Voyer and filed nine charges for offences related to premium discounts and misrepresentations. The AMF is seeking minimum fines totalling almost $462,000.

The AMF investigation revealed that Carol Voyer urged clients to purchase life insurance policies with a benefit of $1,000,000 and over by offering them premium discounts without the knowledge of the insurer. Carol Voyer pocketed large amounts in commissions for the sale of these insurance products.

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

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