Mortgage brokers who requested a transfer to the AMF and are attached to a real estate agency that will not carry on mortgage brokerage activities after April 30, 2020

The AMF’s supervision of mortgage brokerage will affect your situation.

On May 1, 2020, in accordance with the prescribed provisions, mortgage brokers will become representatives who hold a certificate in the sector of mortgage brokerage issued by the AMF.

Mortgage agencies and real estate agencies that notified the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) that they intend to carry on mortgage brokerage activities after April 30, 2020 will automatically become firmsNote: References to a “firm” on this page include an independent partnership. registered in the sector of mortgage brokerage on May 1, 2020. Mortgage brokers who currently act on behalf of an agency that has notified the OACIQ that it will not carry on mortgage brokerage activities after April 30, 2020 must now choose a way to carry on business in order to be authorized to practise in the mortgage brokerage sector on May 1, 2020.

This page explains the regulatory changes and the steps to be taken by mortgage brokers depending on the way they intend to carry on business and by agencies or firms, if applicable.

Choosing a way to carry on business and the steps to be taken

You must choose one of the ways to carry on business below.

You will have to complete all the steps corresponding to your way to carry on business no later than April 30, 2020 in order to be authorized to carry on activities as a mortgage broker as of May 1, 2020.

For more information about the ways to carry on business, see the Firms, independent partnerships and independent representatives section.

Insight

Actions to be taken before April 30, 2020

You must notify the AMF of your decision by e-mail as soon as possible to facilitate the processing of your application.

End of the insight

Register with the AMF as an independent representative in mortgage brokerage

  1. Complete the Registration of independent representative (pdf - 389 KB)This link will open in a new windowUpdated on 13 December 2019 form and send it to the AMF with the prescribed schedules.
  2. You have until April 30, 2021 to pass the examination pertaining to the skills that must be possessed by a responsible officer. This examination is mandatory for your registration as an independent representative under section 4.1. of the Regulation respecting the registration of firms, representatives and independent partnerships (pdf - 120 KB)This link will open in a new windowUpdated on 8 April 2020.

Register a mortgage brokerage firm with the AMF to act on behalf of your own firm

  1. Complete the Registration of firm or independent partnership (pdf - 542 KB)This link will open in a new windowUpdated on 13 December 2019 form and send it to the AMF with the prescribed schedules.
  2. You have until April 30, 2021 to pass the examination pertaining to the skills that must be possessed by a responsible officer. This examination is mandatory for your registration as a firm under section 1.1. of the Regulation respecting the registration of firms, representatives and independent partnerships (pdf - 120 KB)This link will open in a new windowUpdated on 8 April 2020.

Attach yourself immediately to a mortgage or real estate agency that requested a transfer to the AMF and that will be registered as a firm with the AMF as of May 1, 2020

  1. Send the Attachment of representative (pdf - 196 KB)This link will open in a new windowUpdated on 1st May 2020 form to a mortgage or real estate agency that requested the transfer of its mortgage brokerage activities to the AMF.
  2. The agency must complete the form and send it to the AMF before May 1, 2020.

Attach yourself to a financial services firm that is already registered with the AMF and that wishes to practise in the mortgage brokerage sector

  1. Send the Attachment of representative (pdf - 196 KB)This link will open in a new windowUpdated on 1st May 2020 form to the firm on whose behalf you wish to act in mortgage brokerage.
  2. The firm must complete the form and send it to the AMF before May 1, 2020.
  3. The responsible officer of the firm must take the necessary steps to satisfy the conditions stipulated in section 2.1 of the Regulation respecting the registration of firms, representatives and independent partnerships (pdf - 120 KB)This link will open in a new windowUpdated on 8 April 2020.