January 29, 2007 Insurance

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division in the judicial district of Montréal) against Le Garant Consultant Inc.

The AMF has filed one count against Le Garant Consultant Inc. for violating the Act respecting the distribution of financial products and services R.S.Q., c. D-9.2 (the “Act”):

• by acting as a firm without holding a certificate issued by the AMF and offering a damage insurance product, thereby violating section 71 of the Act.

The AMF is seeking a total fine in the amount of $17,000.

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

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Information:

Media only:
Frédéric Alberro (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers