Administrative sanctions totalling $92,500 were imposed on eight Quebec automobile dealerships related to a judicial review process of orders issued by the Autorité des marchés financiers (AMF) in February 2015, announced the regulator last week.
These orders concern the sale of automobile insurance products covering civil responsiblity and damages caused by a vehicle (F.P.Q. No 1), the offer of which is reserved exclusively to property and casualty agents and brokers listed with the AMF.
By virtue of these new orders, Toyota Magog was fined $17,500, Volkswagen de l’Estrie was fined $15,000; Honda de Blainville was fined $10,000; Hyundai Lanaudière fined $7,500; and Riendeau Hyundai $7,500.
Breaches linked to replacement insurance
For the following automobile dealers, the administrative fines also take into account breaches relating to the offer of replacement insurance to certain clients. These dealers omitted to adequately describe this type of insurance.
Those concerned are Hyundai de Sherbrooke (a fine of $12,500), Honda de Terrebonne ($11,250); Hyundai Vaudreuil ($11,250).
Withdrawal of order concerning Volkswagen Laurentides
The AMF has also withdrawn the order initially issued with respect to Volkswagen Laurentides following an analysis of information received during the judicial review process.
In terms of these new orders, the dealers involved withdrew their judicial review applications filed with Quebec Superior Court.
The AMF underlined the commitment by the automobile dealers concerned to take steps aimed at improving compliance with legislative provisions applicable to them and to better protect consumers.