Decisions and Freeze and cease trade orders Insurance

Montréal – On December 5, 2007, the Autorité des marchés financiers (AMF) handed down a decision regarding the firm Courtier d’assurance Roger E. Bélanger inc., pursuant to section 115 of the Act respecting the distribution of financial products and services (the “Act”). In its decision, the AMF suspended the registration of Courtier d’assurance Roger E. Bélanger inc. in all sectors in which it is registered.

The AMF also ordered the firm or its assigns to make arrangements with the AMF regarding the return of client records.

The AMF handed down this decision due to the order on October 17, 2007 by the discipline committee of the Chambre de l’assurance de dommages to temporarily strike Roger Bélanger, the sole director and officer of Courtier d’assurance Roger E. Bélanger inc. from the rolls. Since the committee’s decision, there have been no representatives attached to Courtier d’assurance Roger E. Bélanger inc.

Under section 82 of the Act, a firm may act in a given sector only through a representative. Moreover, under section 127 of the Act, a firm whose registration has been cancelled or revoked for a given sector must return the records relating to that sector to the AMF. The AMF determines the manner of disposing of such records.

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

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