The Autorité des marchés financiers has ordered the insurance company, La Vigilance société de secours mutuels, to immediately halt all prospecting activities and cease issuing any new policies.

The AMF says that the order was issued to ensure the protection of current policyholders and the general public. It says that as of December 31, 2004, the company posted a loss of $72,566, with the shareholders’ deficiency of $44,647, on assets totalling $364,326.

On August 5, the AMF notified La Vigilance of its intention to issue a decision of this sort under its insurance legislation.