Montreal — After analyzing comments received further to the first consultation with the mutual fund industry on the impact of registration reform undertaken by the Autorité des marchés financiers (AMF) on February 20, 2007, the AMF is today releasing a second proposal document entitled Second Consultation on the Regulatory Framework Applicable to the Mutual Fund Sector Further to the Registration Reform Project.
The proposal document sets out measures to ensure a harmonized and equitable regulatory framework for the mutual fund distribution sector together with appropriate transition periods. Following this consultation, the AMF will review comments received and publish a draft regulation for implementing Regulation 31-103 respecting registration requirements.
Registration reform will be implemented under Regulation 31-103, the first draft of which was also published on February 20, 2007. The purpose of this regulation is to harmonize, streamline, and modernize the registration regime across Canada and create a flexible system leading to administrative efficiencies and a lighter regulatory burden for registrants.
The consultation notice and proposal document are available on the AMF website under Special Projects – Registration Reform.
Comments on the proposals may be made in writing by November 19, 2007 to:
Ms. Anne-Marie Beaudoin
Autorité des marchés financiers
800, square Victoria, 22e étage
C.P. 246, tour de la Bourse
Montréal (Québec) H4Z 1G3
The AMF will post all comments on its website.
An information and discussion session on the proposed regulatory framework applicable to the mutual fund sector will also take place from 9:30 a.m. to 11:30 a.m. on November 6, 2007 at:
Montréal Hyatt Regency Hotel
1255 Jeanne-Mance Street
Anyone interested in taking part in this session is asked to register by November 2 by contacting Francine Manny at 514-395-0337, ext. 4785, or by e-mail at email@example.com.
The AMF consulted industry stakeholders on May 1 and 2, 2007 to discuss draft Regulation 31-103 respecting registration requirements, published on February 20, 2007. A total of some 100 entities—including representatives of industry organizations and associations—attended this consultation.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Quebec’s financial sector.
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Frédéric Alberro (514) 940-2176
Information Centre: (877) 525-0337