Decisions and Freeze and cease trade orders Insurance

Montréal – In a ruling handed down on November 19, 2008, Judge Dominique Benoît of the Court of Québec (Criminal and Penal Division), district of Montréal, found Sylvain Armstrong guilty on the three counts brought against him by the Autorité des marchés financiers (AMF) and ordered him to pay a fine totalling $6,000 plus legal costs.

Sylvain Armstrong was faced with three charges for:

  • helping Gestion Malijo, as the sole director and executive officer of the firm, with the distribution of a life and accident insurance product to purchasers or lessors of motor vehicles without giving them a copy of the distribution guide relating to the product, thereby committing the offence stipulated in section 473 of the Act respecting the distribution of financial products and services (the "Act"), with reference to sections 479 and 483 of the Act.

The fine being imposed is double the minimum amount stipulated by law.

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

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