May 25, 2018 Organization

Montréal, May 25, 2018 – As announced on May 17, 2018, the Autorité des marchés financiers (the “AMF”) is seeking candidates to serve on an advisory committee that will examine the practices of representatives pursuing activities under the Act respecting the distribution of financial products and services (the “Distribution Act”).

The Distribution Practices Advisory Committee will serve as a forum between the AMF and industry stakeholders involved in the distribution of financial products and services covered by the Distribution Act to gain practical insight into their field, foster an open dialogue with the industry and help the AMF achieve its objectives, in particular by allowing it to develop a modern, responsive framework based on best practices.

The Committee’s core mandate will be to examine topics proposed by the AMF pertaining in particular to product and service distribution practices in insurance and financial planning. Members will be invited to share their practical experience, concerns and advice on industry-related issues. They will also be called on to provide information, suggestions, focus areas and constructive solutions, in particular to help develop, interpret and implement the AMF’s related framework (including regulations, notices, directives, guidelines and support).

The Committee will be composed of up to 15 outside experts from sectors related to the distribution of financial products and services in Québec, including damage insurance, insurance of persons, financial planning and claims adjustment, and whose activities are governed by the Distribution Act.

To ensure the best possible input into the work of the Committee, members are expected to have relevant experience in their respective fields and a solid understanding of the regulations applicable to financial products and services covered by the Distribution Act. All members must be active within the industry. A candidate’s multi-sector practice will be an asset. Insofar as possible, the AMF will consider certain diversity criteria, including gender representation, experience and competency, when selecting Committee members.

Committee members will be appointed for an initial two-year term, which may be extended in accordance with conditions to be determined by the AMF.  Committee meetings will be planned in co-operation with members and take place three to six times annually. The frequency and duration of meetings may vary based on topical issues, initiatives or ongoing developments. Members will not be remunerated for their participation in the Committee.

Persons interested in joining the Committee are encouraged to consult the call for candidates. The deadline for applications is June 15, 2018.

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

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