Montréal – The Autorité des marchés financiers (AMF) announces that Equisure Financial Network Inc. (“Equisure”) has complied with all commitments undertaken by the company under the agreement reached in December 2005. The AMF and Equisure have further agreed on the improvements that need to be made to the corporate structures of the damage insurance firms covered by the agreement; these structures meet AMF requirements and comply with current legislation.
In December 2005, the AMF reached an agreement with Equisure that concluded an investigation into the commercial practices of the damage insurance firms represented by the company.
Under the agreement, Equisure had undertaken to improve its consumer disclosure practices with respect to ownership ties held by firms and block transfers, as well as to review its corporate structures.
A notice outlining the AMF’s general position regarding the ownership of damage insurance firms was also published in section 3.1 of the AMF Bulletin dated February 16, 2007.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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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