This section provides information about the AMF’s process leading to designation as a credit assessment agentA credit assessment agent means a personal information agent, within the meaning of the Act respecting the protection of personal information in the private sector, where designated by the Autorité des marchés financiers under the Credit Assessment Agents Act (the “CAAA”) (s. 2 CAAA)..

The AMF designates a personal information agentA personal information agent means any person who, on a commercial basis, personally or through a representative, establishes files on other persons and prepares and communicates to third parties credit reports bearing on the character, reputation or solvency of the persons to whom the information contained in such files relates (s. 70 APPIPS). as a credit assessment agent where it considers that its business with authorized financial institutions or banks is significant enough to justify the designation (s. 3, Credit Assessment Agents Act).

As part of the designation process, the AMF will consider such factors as the number of Québec-consumer records that are held, the services that are offered and the number of financial institutions and banks to which the services are offered.

The AMF will give the personal information agent at least 10 days’ prior notice of such designation. The agent will then have the notice period to submit its observations regarding the reasons justifying the designation.