Info-Conformité

June 2026

Web version

This newsletter features regulatory updates, obligation reminders and information relevant to your practice.

COMPLIANCE AND REGULATIONS

Compliance self-assessment: Two new questionnaires are available

We are gradually releasing a series of questionnaires to help you assess and continuously improve practice compliance. The questionnaires include explanatory comments and useful references to help you strengthen your practices.

Two new questionnaires have been added to the current set of tools that are available to you.

Test your compliance approach and use the tool.

Stay tuned: A compliance webinar will be offered this fall in connection with the questionnaires.

Our practice compliance training sessions – a success thanks to your participation!

Over the past few weeks, the AMF, in collaboration with the Chambre de l’assurance held nine practice compliance training sessions in six different cities across Québec: Rivière-du-Loup, Lévis, Longueuil, Saguenay, Sherbrooke and Bécancour.

The sessions were attended by more than 930 representatives in insurance, mortgage brokerage, financial planning and claims adjustment.

The training was accredited by the Chambre de l’assurance, the Institut de planification financière and the AMF.

We would like to thank all the participants for attending the sessions and the team at the Chambre de l’assurance for its invaluable assistance.

Change to the coverage of the Fonds d’indemnisation des services financiers

The AMF administers Québec’s Fonds d’indemnisation des services financiers (FISF), which compensates victims of fraud where the fraud is committed by a financial intermediary when a financial product or service is offered and provided that the eligibility criteria are met.

On June 4, 2026, FISF coverage was expanded to include all clients of representatives and firms (dealers and advisers) registered under the Derivatives Act or the Securities Act—with the exception of investment fund managers, as they do not directly distribute their products to the public.

With this change, the list of professionals that fall within the scope of the FISF was revised and now includes:

Insurance of persons, group insurance of persons and damage insurance
Mutual fund brokerage
Mortgage brokerage
Scholarship plan brokerage
Investment brokerage on the exempt market, restricted market and derivatives market
Portfolio, restricted portfolio and derivatives portfolio management
Claims adjustment
Financial planning

Firms that offer financial products or services through a digital space or on-line trading platform without the intermediary of a natural person are now also included within the scope of the FISF, as are trainees holding a certificate under the Act respecting the distribution of financial products and services (Distribution Act) and non-certified persons authorized to perform certain claim adjustment acts.

These changes, introduced by the Act to amend various provisions mainly with respect to the financial sector (Law 16), will have a significant positive impact on financial consumer protection by ensuring that Québec consumers who are the victims of fraud committed by financial intermediaries benefit from fair, equitable and consistent protection.

Visit the AMF website to learn about the eligibility requirements and the contribution payable.

Changes to the fees payable for the securities and derivatives sectors

Pursuant to the Regulation to amend the Securities Regulation and the Regulation to amend the Tariffs for costs and fees payable in respect of derivatives, which were published in the Gazette officielle du Québec and the AMF Bulletin on June 3 and 4, 2026, the AMF will update its fees effective June 22, 2026, to reflect developments in the financial markets.

The updated fees will help achieve a better alignment between the AMF’s activities as a regulator and the fees that are charged, while supporting a balanced allocation of fees among market participants.

These regulatory changes followed public consultations held from June 26 to September 19, 2025 by the AMF and from March 11 to April 25, 2026 by the ministère des Finances du Québec.

PUBLIC CONSULTATIONS

Regulatory consultation on the draft Regulation to amend the Regulation respecting the issuance and renewal of representatives’ certificates

On Thursday, June 4, the AMF launched the regulatory consultation on the draft Regulation to amend the Regulation respecting the issuance and renewal of representatives’ certificates, which ends on July 6, 2026.

The proposed changes largely reflect the provisions of the Act to facilitate the trade of goods and the mobility of labour from the other provinces and the territories of Canada. The Act, which was assented to on October 30, 2025, establishes the principle that any skilled worker authorized to practise a trade or profession by a regulatory authority in another province or territory of Canada may obtain professional recognition from the relevant Québec regulatory authority to practise such trade or profession without any requirement for material additional training, experience, examinations or assessment.

Regulatory consultation on registrant governance and management rules and the duties of responsible officers

On April 9, 2026, the AMF launched a regulatory consultation in order to clarify the governance and management rules for registrants and the roles and responsibilities of responsible officers under the Distribution Act.

You are reminded that the public consultation is in progress. Comments regarding the proposed regulatory amendments can be made in writing before July 8, 2026.

PUBLICATIONS

Annual Statement of Priorities and action plan to enhance regulatory predictability

On April 14, the AMF published a special edition of its 2026–2027 Annual Statement of Priorities (in French only), which outlines its action plan to enhance regulatory predictability. The statement highlights the key initiatives to be implemented during the second year of the rollout of its 2025–2029 Strategic Plan (in French only).

By publishing an enhanced Annual Statement of Priorities at the start of the fiscal year, the AMF is moving to an approach that enables financial sector participants to better anticipate regulatory developments so they can be incorporated into the implementation of their business strategies.

The AMF’s action plan to enhance regulatory predictability follows consultations conducted over the past year with financial sector stakeholders. It is structured around four main pillars: anticipation, dialogue, accuracy and consistency. Concrete actions have been identified to strengthen predictability based on the issues raised. These actions will be actively implemented out over the next two years.

2025-2026 Enforcement Report

Read the AMF’s new Enforcement Report for fiscal year 2025-2026 (in French only), which focuses on two closely related priorities of the AMF: strengthening compliance across the industry and protecting consumers directly.

Report highlights include:

More than $7.7 million in fines, administrative penalties and administrative sanctions were imposed
87 individuals and firms were sanctioned by the courts for various offences under the laws administered by the AMF
124 freeze orders and bans against carrying on activities were issued against 53 individuals
94 reports were made to the AMF under its Whistleblower Program
229 warnings were issued about fake on-line trading platforms, particularly in the cryptoasset sector

2025 Summary of Oversight and Regulatory Activities

The AMF published the annual Summary of Oversight and Regulatory Activities carried out in 2025.

The summary includes Québec companies’ financing transactions as well as useful observations and guidance for preparing regulatory-compliant materials. It also highlights current securities regulatory issues and trends relevant to companies and insiders.

Tokenization, cryptoassets, the recalibration of fees and other topics of interest are also covered in the summary.

THINGS TO WATCH FOR

New professional development activity available this summer (1 PDU)

This summer, the AMF will offer a deposit protection training activity to financial sector stakeholders, particularly those involved in soliciting or receiving deposits from the public.

Among other things, the activity will help participants:

Understand the purpose of deposit protection and the importance of raising public awareness to promote the stability of the financial system
Understand the AMF’s mandate and its response mechanisms in the event of difficulties experienced by an authorized deposit institution
Communicate clear, accurate and timely information to depositors regarding the manner in which deposits are protected in Québec
Calculate a depositor’s protected amounts in a variety of concrete situations

The professional development activity will be available via the Chambre de l’assurance’s platform and will entitle participants to one professional development unit (PDU) recognized by the Chambre de l’assurance, the Institut de planification financière and the Canadian Investment Regulatory Organization.

Deposit protection: Ongoing campaign and responsibilities of institutions

L'AMF protège vos dépôts en cas de faillite de votre institution financière.

To raise deposit protection awareness among Quebeckers, the “You’re protected without thinking about it” campaign, in the form of digital audio spots and visual ads broadcast between breaks on streaming platforms and smart TVs, is airing this spring and in late summer.

Did you know that deposit institutions are required to provide depositors with information on deposit protection before accepting an eligible deposit? If you offer these institutions’ deposits, this obligation applies to you, as well.

Learn more about deposit protection and the deposit institutions that offer eligible deposits.

CALENDAR OF AMF INITIATIVES

To stay informed about upcoming projects, refer to the calendar of AMF Initiatives. The June 2026 edition is available now.

Questions?

Whether you have questions about your professional practice or your professional obligations, our information agents are here to help you!

1 877 525-0337

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