Acquiring another registered firm or selling a registered firm Shares or assets

A registered firm must obtain the AMF’s approval to, among other things:

  • acquire 10% or more of the voting securities of another registered firm
  • sell 10% or more of its voting securities

The firm must notify the AMF at least 30 days before proceeding with the transaction. You can notify us by completing and submitting the model notice form (pdf - 194 KB)This link will open in a new windowUpdated on February 16, 2021This voluntary document (the Notice) is intended to assist filers in complying with the notice requirements in sections 11.9 and 11.10 of Regulation 31-103. You do not need to use this format to comply with the notice requirement but can choose to use this Notice or provide the information in another manner. – Securities dealers, advisers and investment fund managers from the AMF website.

The AMF will analyze your notice to determine whether, among other things, the transaction:

  • is likely to give rise to a conflict of interest
  • is likely to hinder the firm in complying with securities legislation
  • ensures an adequate level of protection of the public
  • is otherwise prejudicial to the public interest

Other transactions may also require the AMF’s approval. Please refer to our Guide to securities firm registration requirements and sections 11.9 and 11.10 of Regulation 31-103 respecting registration requirements, exemptions and ongoing registrant obligations for more information about the requirements relating to the acquisition of registered firms.