Insurance

Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding and filed seven charges pertaining to illegal practice as an insurance of persons representative against Claude Martineau and Guy Lampron in the judicial district of Trois-Rivières. The defendants are liable to minimum fines of $19,000 and $4,000 respectively if they are found guilty on all charges.

Claude Martineau is accused of pursuing activities as an insurance of persons representative without holding a certificate in this regard, making a misrepresentation and breaching a decision issued by the Bureau de décision et de révision ("Bureau"). As for Guy Lampron, he is accused of aiding, by act or omission, Claude Martineau in pursuing activities as a representative without holding a certificate in this regard.

In a decision issued in July 2014, the Bureau ordered Claude Martineau to cease activities as a representative or as a responsible officer of an insurance of persons firm. As well, the AMF filed charges against Claude Martineau and another person in October 2015 for similar offences.

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

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