December 21, 2012 Organization Insurance

Montréal - The Autorité des marchés financiers ("AMF") has reached an agreement with Desjardins Financial Security Life Assurance Company which will conclude the investigation it initiated in March 2012 into the distribution of the Ready-to-Drive Loan product.

The AMF has found no indication that clients of Desjardins Financial Security Life Assurance Company could have been injured or suffered damage. However, the AMF has concluded that improvement is needed with respect to the disclosure of information about the Ready-to-Drive Loan product to consumers.

Under the terms of the agreement, Desjardins Financial Security Life Assurance Company has agreed to submit to the AMF a distribution guide for the Ready-to-Drive Loan product. Desjardins Financial Security Life Assurance Company will also pay the AMF $25,000, in particular to reimburse the cost of the investigation.

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

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