October 2, 2013 Insurance

Montréal - On September 23, 2013, Justice of the Peace Johanne White of the Court of Québec for the district of Montréal accepted the joint suggestion of the parties and fined Courtier d'assurance-crédit Berman-Cast inc., Dominic Spiridigliozzi and Peter Filato a total of $63,000 for offences related to illegal practice as a damage insurance broker.

More specifically, the damage insurance firm Courtier d'assurance-crédit Berman-Cast inc. pleaded guilty to seven counts of aiding Dominic Spiridigliozzi to pursue illegal practice as a damage insurance broker without a licence. As a result, the firm was fined a total of $21,000.

Dominic Spiridigliozzi, the majority shareholder and officer of Courtier d'assurance-crédit Berman-Cast Inc., pleaded guilty to seven counts of illegal practice as a damage insurance broker and was fined a total of $28,000.

With respect to Peter Filato, a duly registered damage insurance broker, he pleaded guilty to seven counts of aiding Dominic Spiridigliozzi to pursue illegal practice as a damage insurance broker without a licence. As a result, he was fined a total of $14,000.

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

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