May 17, 2007 Insurance

Montréal – The Autorité des marchés financiers (AMF) has imposed, as of May 16, 2007, new registration conditions on the brokerage firm Centre de courtage Assep inc., of which the president, director and officer in charge is Martin Beaulé, pursuant to sections 115 and 117 of the Act respecting the distribution of financial products and services:

• Centre de courtage Assep inc. is required to replace its officer in charge;
• Centre de courtage Assep inc. is required to provide the AMF, within five days after its proposed decision, the name of the officer in charge it intends to appoint to replace Martin Beaulé;
• The appointment of a new officer in charge will have to be approved in advance by the AMF in writing in order for the firm to pursue its activities;
• Martin Beaulé will no longer be able to act, directly or indirectly, as the officer in charge at Centre de courtage Assep inc.

In its decision, the AMF noted a number of reasons for imposing these conditions, including the fact that Martin Beaulé has no longer been registered with the AMF since January 31, 2007 as a representative in insurance of persons and group personal insurance plans since he failed to pay back $11,653.34 owed to the financial services compensation fund.

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

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