February 24, 2006 Insurance

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings before the Court of Québec (Criminal and Penal Division) in the district of Longueuil against William C. Ballachey.

The AMF lodged 10 counts against Mr. Ballachey for acting as or purporting to be a representative in damage insurance within the meaning of section 2 of the Act respecting the distribution of financial products and services, without being registered as such with the AMF. The alleged offences were committed between April 2003 and August 2004.

The AMF is seeking a total fine in the amount of $100,000 for the 10 counts.

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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Philippe Roy (514) 940-2176
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