Information concerning mutual fund dealers registered in Québec
Mutual fund dealers registered in Québec must become members of New SRO by January 1, 2023. Dealers registered as mutual funds dealers (MFD) as at December 31, 2022 automatically become members of New SRO, with no additional formality, as soon as the Recognition Order takes effect.
More information regarding the Autorité des marchés financiers (AMF) plan for transitioning the oversight of mutual fund dealers in Québec can be found on the AMF website.
Mutual fund dealers registered in Québec benefit from a transition period (“transitional phase”) in order to integrate their Québec activities under New SRO. New SRO’s regulatory requirements, with the exception of the rules necessary to ensure its smooth functioning, will not apply to the dealers’ activities in Québec during this period.
The AMF will continue to supervise the mutual fund dealers registered in Québec during the transitional phase.
Recognition of New SRO by the AMF will not alter the mandate, functions and powers of the Chambre de la sécurité financière (“CSF”) as stated in the Act respecting the distribution of financial products and services, CQLR c. D-9.2.