The Autorité des marchés financiers is initiating penal proceedings against a Quebec man, accusing him of selling insurance without a licence.

The AMF says that Victor Darac faces 17 counts of having violated the Québec Act respecting the distribution of financial products and services. Specifically, he is accused of acting as a representative in insurance without holding a certificate authorizing him to do so.

The charges have not been proven in court. If Darac is convicted on all counts, he will be ordered to pay a minimum fine of $8,500, the AMF says.