Decisions and Freeze and cease trade orders Insurance

Montréal – On March 16, 2005, Judge Michel Babin of the Court of Québec (Criminal and Penal Division), sitting in the judicial district of Beauce, declared Victor Darac guilty of the 17 counts brought against him.

The Autorité des marchés financiers (AMF) had charged Mr. Darac with violating An Act respecting the distribution of financial products and services (Québec) for acting as a representative in insurance of persons within the meaning of section 3 of the Act without holding a representative’s certificate in insurance of persons authorizing him to do so.

Mr. Darac was ordered to pay a fine in the amount of $8,500.

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

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