Securities or Derivatives firms Registration and Maintenance of registration

To act as a dealer, adviser or investment fund manager, a firm must register as a dealer, adviser or investment manager with the AMF.

Depending on the business it wishes to engage in, the firm will need to file an application for registration in one or more of the following categories:

  • DealerIncluded in the categories:
    Investment dealer Derivatives dealer Mutual fund dealer Exempt market dealer Scholarship plan dealer Restricted dealer
  • AdviserIncluded in the categories:
    Portfolio manager Restricted portfolio manager Derivatives portfolio manager
  • Investment fund manager

The registration requirement for securities firms derives from the Securities ActThis link will open in a new window, CQLR, c. V-1.1 or the Derivatives ActThis link will open in a new window, CQLR, c. I-14.01 and their regulations.

In addition to registering, the firm will have to meet the requirements derived from Regulation 31-103 respecting Registration requirements, exemptions and ongoing registrant obligations This link will open in a new window (“Regulation 31-103”) and any other regulation that may apply to its business.

Registration

Registration Guide

This guide describes the steps in the registration process with a view to making the process as efficient as possible. It also contains information on how to keep your firm’s registration record current and secure the necessary approvals as its business evolves (for example, by adding a category of registration or a jurisdiction of Canada in which it carries on business).

 

Fees

Firms must pay certain fees when applying to register with the AMF. To learn more about these fees, please refer to the Fees and costs payable to the AMF section of our website

Individuals

A registered firm carries on business through an ultimate designated person, a chief compliance officer and registered representatives. These individuals need to be registered in order for a securities firm to obtain its registration.

Each registration category for individuals comes with its own set of requirements. Please refer to the Becoming a Professional - Securities section of our website to find out more about the relevant registration requirements.

The AMF has developed a guide describing the steps in the registration process:

(pdf - 973 KB)This link will open in a new windowUpdated on October 12, 2023To act as a dealer, adviser or investment fund manager, a firm must register as a dealer, adviser or investment manager with the Autorité des marchés financiers (the “AMF”).

Maintenance of registration

To maintain its registration, a firm must ensure that it meets all the applicable regulatory requirements. Among other things, the firm must establish and maintain policies and procedures that establish a system of controls sufficient to provide reasonable assurance that the firm and each individual acting on its behalf are complying with securities legislation and adequately managing the risks associated with its business. The firm will have to undergo periodic inspections during which it will have to demonstrate that it is complying with existing regulations.

A registered firm is also subject to ongoing financial condition obligations under Part 12 of Regulation 31-103. It has to submit its annual and quarterly disclosures and any other relevant documents (subordination agreement, net asset value adjustments, etc.) to the AMF via E-Services in accordance with its disclosure schedule, which is available in E-Services.

A registered firm needs to also be sure to pay the annual fees associated with its business.

We suggest you stay up to date on the regulatory amendments applicable to your business by regularly checking the 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations page on our website.

Information

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