November 23, 2006 Insurance

Montréal – The Autorité des marchés financiers (AMF) has launched legal proceedings before the Court of Québec (Criminal and Penal Division), in the judicial district of Chicoutimi, against Réjean Deraspe and the Centre de Planification Financière C.P.F. inc.

The AMF filed three counts against Mr. Deraspe for purporting to be a financial planner in an interview with a reporter and for using the title of financial planner on his business card and website without holding a certificate as a financial planner issued by the AMF, thereby violating section 12 of the Act respecting the distribution of financial products and services (the “Act”).

The AMF filed one count against the Centre de Planification Financière C.P.F. inc. for purporting to offer financial planning services via a website, although it is not an independent partnership nor a firm acting through a financial planner, thereby violating section 466 of the Act.

The AMF is therefore seeking a total fine in the amount of $6,000 for the three counts against Mr. Deraspe and a total fine in the amount of $2,000 for the one count against the Centre de Planification Financière C.P.F. inc.

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

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Information:

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Frédéric Alberro (514) 940-2176
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