Annual contribution to the Chambre de la sécurité financière (CSF)

All representatives operating in a sector overseen by the Chambre de la sécurité financière (CSF) are required to pay their annual contribution in January each year.

Representatives subject to the Distribution Act

Sectors and sector classes concerned:

  • Insurance of persons;
    • Accident and sickness insurance.
  • Group insurance of persons;
    • Group insurance plans;
    • Group annuity plans.
  • Financial planning.

At the beginning of each year, the AMF sends representatives subject to the Distribution Act an invoice for the annual contribution to the CSF via AMF E-Services or by mail.

For 2024:
The amount of the invoice is $441.50 ($384.00 + GST $19.20 + QST $38.30).
Payment must be made within 30 days following receipt of the invoice.

You must therefore pay the invoice before February 4, 2024.

Payment can be made via E-Services or by postal service using the remittance slip.

Representatives who do not pay the invoice by the specified date will have their right to practise suspended in the sector or sector class overseen by the CSF.

Insight

To learn more about the payment of your annual contribution, visit the page Pay an invoice

End of the insight

Representatives subject to the Securities Act

Categories concerned:

  • Mutual funds;
  • Scholarship plans.

For these representatives, the amount of the annual contribution to the CSF is automatically debited in the National Registration Database (NRD) from the firm’s account on December 31 of each year.

Warning

This invoice should not be confused with your certificate renewal invoice

The fees for renewing your certificate are not included in the invoice for the contribution to the CSF. A separate invoice for the payment of renewal fees will be sent prior to the expiry date of the representative’s certificate.

End of the warning

Suspension of right to practise under the Distribution Act

Representatives who do not pay the annual contribution to the CSF will have their right to practise suspended in the sector or sector class for which they are in default.

Suspension procedure

1. Notice preceding issuance of a suspension decision by the AMF

February 8, 2024: The AMF sends all representatives who have not paid their annual contribution to the CSF a notice preceding issuance of a decision suspending their right to practise, that is, 15 days prior to the suspension of the certificate.

The notice also stipulates the date before which the payment should be made, failing which the certificate will be suspended.

2. Suspension of a representative’s certificate by the AMF

March 5, 2024: The AMF sends a suspension decision to representatives who still have not paid the contribution to the CSF. A message is also sent to the firm to which the representative is attached.

The representative must cease to pursue activities as a representative until the suspension is lifted.

3. Procedure for lifting the suspension of a representative’s certificate

  1. The representative must pay the invoice for the contribution to the CSF.
  2. The AMF lifts the suspension of the certificate upon receipt of the payment.
  3. The AMF sends the representative a letter regarding the lifting of the certificate suspension. A copy is also sent to the firm to which the representative is attached for the suspended sectors or sector classes.