Insurance

Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding in the judicial district of Terrebonne against Nathalie Beckers, a former representative in insurance of persons, for various illegal acts carried out with respect to a client considered to be vulnerable.

The AMF will argue that Nathalie Beckers acted illegally as a representative in insurance of persons even though she was temporarily struck off the roll further to a decision by the Chambre de la sécurité financière. As well, the AMF plans to argue that Nathalie Beckers conducted transactions on three occasions that were not authorized by her client and made misrepresentations using a falsified statement.

Nathalie Beckers faces a total of five counts, including three counts of failing to execute transactions as requested, one count of making misrepresentations and one count of pursuing illegal activities as a representative in insurance of persons. Under An Act respecting the distribution of financial products and services, the respondent faces a minimum fine of slightly over $145,000 if found guilty of the violations.

In the summer of 2013, the AMF took action (AMF intervenes in matter of misappropriation) in order to freeze the bank accounts and assets of Nathalie Beckers and put an end to her activities.

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The AMF provides various tools to persons seeking assistance with managing their affairs or planning to entrust someone with the management of their assets.

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

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