You must always maintain your professional independence and avoid any conflicts of interest.

Am I dually employed?

You’re dually employed when you pursue professional actives, in another job or occupation, that are not related to your activities as a representative, whether you are remunerated or not and whether you carry out those activities on a full-time or part-time basis.

If you’re in this situation, you must declare it to the AMF.

What are the consequences of dual employment?

As each case is different, we can’t tell you before analyzing your file if your right to practise will be affected.

After analyzing your file, the AMF may decide to:

  • Subject your right to practise to conditions or restrictions;
  • Refuse to issue or renew your certificate;
  • Cancel your certificate.

What occupations are incompatible?

The regulations list the occupations that are incompatible with the pursuit of activities as a representative according to the sector(s) in which representatives are authorized to practise.

The following occupations or activities are incompatible for insurance of persons, group insurance of persons and damage insurance representatives (agents or brokers), claims adjusters and financial planners

  • Judge or police officer;
  • Lawyer or notary (except if you're a claims adjuster or financial planner);
  • Bankruptcy trustee;
  • Real estate broker (except in connection with mortgage brokerage activities);
  • Any activity of public accountancy** (except if you’re a claims adjuster or financial planner)
    ** According to s. 4 This link will open in a new window de la Chartered Professional Accountants Act;This link will open in a new window
  • Any health-care profession governed by the Professional Code;
  • Minister of religion;
  • Member of management or employee of a union, other than a union formed of representatives, or a professional association;
  • Funeral director or other similar duties in the funeral services industry.

In addition, the following occupations are incompatible for damage insurance representatives (agents and brokers) and claims adjusters

In addition to the occupations and activities listed above:

  • Vendor, lessor or repairer of road vehicles, off-road vehicles or boats;
  • Vendor, lessor or repairer of movable property;
  • Contractor, as that term is defined in the Building Act;
  • Supplier of services or goods which could be required at the time of an insurance loss.

When and how to declare a dual employment

Are you registered in insurance and/or financial planning?

You must notify the AMF of any change to the information provided in your certificate application or during your last renewal. Don’t wait until the renewal of your certificate to declare your other activity.

Warning

You must notify the AMF within five days of your other occupation or dual employment

End of the warning

Inform the AMF within five days

You must send us the Dual Employment Form(pdf - 243 KB)This link will open in a new windowUpdated on 19 June 2018 and the required supporting documents within 5 days of the start of your other activity.

If you’re registered for E-Services, you must:

  1. Sign in to E-Services;
  2. Validate the information in the identification section;
  3. Select "Other applications/requests";
  4. Select "Other applications – Compliance";
  5. Attach the scanned form and supporting documents to the application;
  6. Submit the application.

If you’re not registered for AMF E-Services, you can:

  1. Register for E-Services by following these steps; OR
  2. Send you documents by mail.
Insight

Your firm must give its consent by completing the Attestation of Firm included in the form.

End of the insight

The AMF analyzes your file

The AMF analyzes your dual employment situation based on the documents you’ve submitted and your employer’s attestation.

Warning

Unless the AMF indicates otherwise, you can continue to practise while your file is being analyzed.

End of the warning

Are you registered in the mutual fund dealer or scholarship plan dealer category?

You must update your file in the National Registration Database (NRD).

If you need help, ask the chief compliance officer of the firm for which you are practising in the securities sector.

Refer you to Policy Statement to Regulation 31-103 (pdf - 604 KB)This link will open in a new windowUpdated on 1st December 2017 > section 13.4. Identifying and responding to conflicts of interest > Individuals who have outside business activities.

Warning

You must notify your firm within ten days of your other occupation or dual employment

End of the warning

To update information regarding already declared employment

Don’t wait until the renewal of your certificate to update the information concerning your already declared job or to inform us that you’re no longer in the job.

Even though the declaration to be completed at renewal contains a question about dual employment, you must notify the AMF of any change to the information or document provided within 5 days** of the change.

** According to section 62 of the Regulation respecting the issuance and renewal of representatives’ certificates This link will open in a new window

If you’re registered for E-Services, you must:

  1. Sign in to E-Services;
  2. Validate the information in the identification section;
  3. Select "Other applications/requests";
  4. Select "Other applications - Compliance";
  5. Complete the “Description” field to justify your application;
  6. Submit the application.

If you’re not registered for E-Services , you can:

  1. Register for E-Services by following these steps; OR
  2. Send you documents by mail.

I’m a mortgage broker: Do I need to declare it to the AMF?

You can pursue activities as a mortgage broker in addition to your activities as an insurance or financial planning representative.

You don’t need to declare to the AMF that you hold a mortgage broker licence issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ).

However, you can’t pursue activities as a real estate broker in addition to your activities as an insurance or financial planning representative, because real estate brokerage is listed as an incompatible activity in the regulations (see “What are the consequences of dual employment” above).