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Claude Martineau and Guy Lampron écopent fines totalling $ 81 000 $

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6 November 2018 11:30

Photo : Freepik

Last October, the judge, Rachel Gagnon of the Court of Québec ratified the agreement between the parties and has imposed fines totalling $ 81 000 $ Claude Martineau and Guy Lampron for breaches of the Act respecting the distribution of financial products and services.

This decision follows a prosecution brought by thefinancial markets Authority in 2017. This is the second lawsuit brought against MESSRS. Martineau and Lampron by the regulator.

The illegal practice of the activity of representative

Claude Martineau has pleaded guilty to the charge of having exercised the activity of a representative in insurance of persons illegally (three counts) and failing to abide by a decision of the administrative Tribunal of the financial markets (the three heads). He received fines totalling $ 63 000 $.

Guy Lampron has pleaded guilty to three counts grouped together assistance the illegal exercise of activity of a representative in insurance of persons. This is done to impose fines totalling $ 18 000 $.

Multirécidiviste

Claude Martineau has been found guilty repeatedly of illegal exercise of the activity of insurance representative, including for the first time in 2014. The Office of decision and review him then prohibited from acting as a representative or officer in charge of a firm in insurance of persons.

The Authority had also filed a lawsuit against him for the same reasons and against the Paul-André Bélisle to have helped, by act or omission, Claude Martineau to act as a representative without being the holder of a certificate issued by the Authority. Claude Martineau was sentenced to fines totalling $ 90 000 $. Paul-André Bélisle has been ordered to pay 18 000 $.

Another lawsuit had been brought by the Authority against Claude Martineau and Guy Lampron in 2016, but the Authority had removed the heads relating to this first appeal against the pair in 2017.

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