Supervisory Framework

As stated in its constituting Act, part of the AMF’s mission is to “ensure that the financial institutions and other regulated entities of the financial sector comply with the solvency standards applicable to them as well as with the obligations imposed on them by law with a view to protecting the interests of consumers of financial products and services, and take any measure provided by law for those purposes.” c. E-6.1, a.4 This link will open in a new window.

Supervisory approach

In line with its desire to promote sound and prudent management practices and sound commercial practices within financial institutions, the AMF, in performing its supervisory activities, intends to assess the extent to which the principles set out in each of the guidelines of its framework are being observed, taking into account the particular attributes of each institution.

Given that practices are constantly evolving, the AMF expects the decision-making bodies of financial institutions to remain current on best practices and adopt them where such practices meet their needs. Consequently, the effectiveness and appropriateness of implemented strategies, policies and procedures and the quality of oversight and control provided by the board of directors and senior management are also assessed as part of the AMF’s supervisory activities.

In light of the above, the AMF has developed a Supervisory Framework that details its approach to supervising authorized financial institutions.The framework is updated every three years or as needed, based on developments in the financial sector, benchmarks for supervisory practices and regulations and to reflect new risks, emerging trends and risks identified in the course of supervisory activities.

Supervisory framework (pdf - 795 KB)This link will open in a new windowUpdated on December 17, 2020The Autorité des marchés financiers (the “AMF” or the “Authority”) is the body mandated by the Québec government to regulate Québec’s financial sector and assist consumers of financial products and services, in particular in the areas of insurance, securities, derivatives, deposit institutions – other than banks – the distribution of financial products and services and, since May 1, 2020, mortgage brokerage.

Notice relating to the update of the Financial Institutions Supervisory Framework (pdf - 22 KB)This link will open in a new windowUpdated on October 26, 2023Notice of the AMF_Update of the Financial Institutions Supervisory Framework_october 2023_EN