Montréal – The Autorité des marchés financiers (AMF) has launched a penal proceeding against Yvon Laplante, a resident of Montréal, before the Court of Québec (Criminal and Penal Division), district of Montréal, for acting as a representative in insurance of persons without the required certificate.
Specifically, Mr. Laplante faces four counts for acting as a representative in insurance of persons within the meaning of section 3 of An Act respecting the distribution of financial products and services, without holding an appropriate certificate as a representative in insurance of persons issued by the Autorité des marchés financiers (AMF), by offering an individual insurance product in insurance of persons from Empire Financial Group, a life insurance company, in violation of section 12 of the Act, thereby committing an offence under section 461.
The sanction being sought is a fine of $500 on each count, plus costs, i.e. an additional amount of $111 for a total fine on each count of $611, as provided for in section 485 of the Act.
The AMF is the regulatory and oversight body for Québec’s financial sector.
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Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then dial 2 for consumers