Montréal – In line with the actions already taken to minimize the impact of COVID-19 on Québec’s financial system, the Autorité des marchés financiers (AMF) is announcing additional adjustments to the existing framework.
“These measures are designed to mitigate the impact that the pandemic and distancing measures are having on certified representatives and money-services businesses, which, among other things, are facing a decline in business and the expiry of their certificate. They also make adjustments to certain capital, leverage and liquidity requirements for financial institutions in order to build on measures to support consumers and businesses and to further help sustain the economy and ensure its eventual recovery,” said Louis Morisset, AMF President and CEO.
These measures supplement those announced on March 31, 2020 and are intended for the following financial services industry participants:
- Insurance and financial planning representatives, firms, independent representatives and independent partnerships governed by the Act respecting the distribution of financial products and services (Distribution Act)
- AMF-registered money-services businesses
- Québec-chartered insurers
- Financial services cooperatives, trust companies and savings companies
The measures taken by the AMF are reflected, among other things, in fee payment referrals, validity period extensions for expired certificates, and relief for insurers and deposit institutions so they can deal with the current circumstances.
For all measures affecting insurance and financial planning representatives and firms, independent representatives and independent partnerships governed by the Distribution Act, please refer to the following document (pdf - 20 KB)This link will open in a new windowUpdated on 15 April 2020.
For all measures affecting AMF-registered money-services businesses, please refer to the following document (pdf - 19 KB)This link will open in a new windowUpdated on 15 April 2020.
For all measures affecting Québec-chartered insurers, please refer to the following document (pdf - 34 KB)This link will open in a new windowUpdated on 9 April 2020.
For measures relating for financial services cooperatives, trust companies and savings companies, there are two notices, one covering additional measures related to capital and prudential standards (pdf - 65 KB)This link will open in a new windowUpdated on 9 April 2020 and the other covering transitional arrangements for capital treatment (pdf - 71 KB)This link will open in a new windowUpdated on 9 April 2020 for expected credit losses.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
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Information – COVID-19
In light of the exceptional situation caused by the COVID-19 pandemic, the AMF has changed its service offering to maximize its ability to assist you during this period.
- If you’re a journalist, please contact Sylvain Théberge at 514-940-2176.
- If you’re a consumer, we encourage you to contact us using the Request for information form This link will open in a new window.
- If you’re an industry member, you can contact us via AMF E-Services.
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