The Autorité des marchés financiers has ordered Elite Insurance Co. to ensure that the Fédération québécoise des clubs Quads, its affiliated clubs and their representatives stop selling insurance to off-roaders.

Elite was ordered to stop the Fédération from distributing the MaxQuad insurance product as expeditiously as possible. The Quebec regulator also ordered Elite to cease accepting proposals for the product by Aug. 1.

The MaxQuad insurance product is marketed by Elite to drivers of off-highway vehicles, who are required to carry civil liability insurance. Groupe 3PCS inc., a damage insurance firm registered with the AMF, administers the MaxQuad program that is distributed by the federation, its affiliated clubs and their representatives.

The AMF maintains that the federation, its affiliated clubs and their reps are not authorized to distribute financial products and services since they are not registered with the AMF.