AMF Files charges against Claude Martineau and Paul-André Bélisle
Insurance
Montréal - The Autorité des marchés financiers ("AMF") has filed 25 charges against Claude Martineau for pursuing illegal activities as an insurance representative, making misrepresentations and breaching a decision of the Bureau de décision et de révision ("Bureau"). It also filed eight charges against Paul-André Bélisle for aiding with illegal practice. In total, the AMF is seeking minimum fines of $93,000.
Service with respect to Paul-André Bélisle
The publication of this press release is also the method of service, duly authorized by a justice of the peace, of statement of offence 4944-CT consisting of eight charges against Paul-André Bélisle. A copy of the statement and supporting evidence are available to Paul-André Bélisle, or to his legal representative, at 2640, boul. Laurier, bureau 400, Québec (Québec) G1V 5C1.
Paul-André Bélisle is required to enter a guilty or not guilty plea at 2640, boulevard Laurier, bureau 400, Québec (Québec) G1V 5C1, within 30 days following the publication of this press release. Should he fail to enter a plea or pay the entire fine and the costs being claimed, Paul-André Bélisle will be deemed to have entered a not guilty plea and the matter will be tried and a judgment handed down without further notice.
Allegations
Based on the AMF investigation, it was possible to determine that Claude Martineau acted as an insurance of persons representative with respect to 13 persons, even though his certificate had been suspended. He carried out activities that required registration with the AMF such as representations related to insurance products and proceeded with the signing of documents by certain clients. As well, he made misrepresentations by stating that he held a valid right to practise in insurance of persons and, on several occasions, breached a decision of the Bureau that expressly banned him from acting as an insurance of persons representative.
As for Paul-André Bélisle, further to the investigation, it was determined that he aided, by act or omission, Claude Martineau in his activities as an insurance representative without holding a certificate issued by the AMF.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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