June 21, 2007 Insurance

Montréal – The Autorité des marchés financiers (AMF) has launched a penal proceeding in the Court of Québec (Criminal and Penal Division) against Jacques Belval, W.J. Infinité projet inc. and Warren Jang.

As part of the suit, the AMF has filed three charges against Jacques Belval for violating sections 10 and 461 of the Act respecting the distribution of financial products and services, R.S.Q., c. D-9.2:

• by pursuing activities as a claims adjustment representative without being registered as such with the AMF.

The AMF is seeking a total fine in the amount of $6,000, which is four times the minimum fine.

The AMF has also filed one charge against W.J. Infinité projet inc. for violating sections 71 and 462 of the Distribution Act:

• by acting as a claims adjustment firm without being registered as such with the AMF by making an offer, through its representative Jacques Belval, to Kin Seto, the representative of KPSE Management Inc., to prepare a detailed claim and negotiate an insurance settlement.

The AMF is seeking a fine in the amount of $1000 against W.J. Infinité projet inc. for the charge brought against it.

Finally, the AMF has filed one charge against Warren Jang for violating sections 71, 462 and 483 of the Distribution Act:

• by assisting Développement W.J. Infinité Projet Inc., operating under the name Infinité Project Development Inc., in acting as a claims adjustment firm without being registered as such with the AMF.

The AMF is seeking a fine in the amount of $500 against Mr. Jang for the charge brought against him.

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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