On August 6, 2014, the Bureau de décision et de révision ("Bureau") approved an agreement entered into by Assurances Crédit Virage inc., Assurexperts inc. and Chantal Thibodeau (responsible officer of Assurances Crédit Virage inc.) and the Autorité des marchés financiers ("AMF").

The AMF accused Assurances Crédit Virage inc. of failing to comply with various legal requirements. These irregularities included: lack of separate account, shortcoming in keeping client records, shortcoming in the information provided to clients, failure to provide products from a variety of insurers, incomplete register of commissions, lack of complaint examination policy, confusion in firm's signage and dual employment form not completed. As well, the AMF investigation revealed that Crédit virage inc. allowed persons who were not duly registered with the AMF and did not have recognized insurance competencies, namely, salespersons at automobile dealerships, to be part of the insurance distribution process by carrying out activities reserved for representatives. Assurances Crédit Virage inc. agreed to pay an administrative penalty in the amount of $52,000 for all these violations.

Chantal Thibodeau agreed to pay a fine of $5,000 in her capacity as the responsible officer of Assurances Crédit Virage inc. She has also been barred from acting as a responsible officer for the next five years.

As for Assurexperts inc., the firm through which Assurances Crédit Virage conducted business exclusively, it agreed to pay a penalty in the amount of $20,000 for allowing a structure that enabled persons not registered with the AMF to gather client information and provide advice to clients.