September 10, 2018 CSA Organization

Montréal – The Autorité des marchés financiers (AMF) will hold an information session on Wednesday, October 3, 2018 to present the highlights of two key regulatory consultations of the Canadian Securities Administrators (CSA) on the proposed client focused reforms and reforms targeting embedded commissions.

The information session is for anyone interested in participating in one of these consultations. It will take place from 9:00 a.m. to 12:00 p.m., in the Auditorium on the 4th floor of Place Victoria at 800 rue du Square-Victoria, in Montréal.

Those who wish to take part must confirm their attendance by completing the registration form This link will open in a new window. The session will also be available via conference call. Attendees must complete the same registration form. For questions regarding the information session, please contact Vanessa Jetté at [email protected].

Consultation process

• Proposed client focused reforms

The consultation process for the proposed client focused reforms began on June 21, 2018 and will run for 120 days, as stipulated in the <link en professionals regulations-and-obligations public-consultations topic securities ongoing>CSA Notice of consultation issued on June 21, 2018. Comments may be submitted in writing or via the AMF website until Friday, October 19, 2018, the end of the consultation period.

• Proposed reforms targeting embedded commissions

As mentioned in CSA Staff Notice 81-330 (pdf - 184 KB)This link will open in a new windowUpdated on June 21, 2018Embedded Commissions, also published on June 21, 2018, the CSA will soon issue a Notice of consultation on the reforms targeting embedded commissions. The comment period will be 90 days from the date of publication of the notice. Comments can be submitted in writing or via the AMF website.

Further to this publication, an invitation-only roundtable will be held in November 2018. The roundtable discussions will focus on the transition away from trailing commissions paid to dealers that do not make a suitability determination. A second invitation-only roundtable for industry experts will address the transition toward discontinuing deferred sales charges. For this roundtable, the AMF especially encourages input from mutual fund representatives who have been registered as such for at least 10 years. Those interested in participating can contact Mathieu Simard, Senior Advisor, Investment Funds, at [email protected].

As part of these two regulatory initiatives, the AMF will hold other in-person consultations within the next few months to continue constructive dialogue with stakeholders and gather additional feedback. Information about any consultations organized by the AMF will be announced in the coming weeks.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

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Information:

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