Regulatory Alerts2022-11-24
Regulation to Amend Regulation 31-103 – Transition for Québec Mutual Fund Dealers to the New SRO
The Autorité des marchés financiers (AMF) has amended Regulation 31-103 to establish transitional provisions enabling Québec mutual fund dealers to automatically become members of the New Self-Regulatory Organization (New SRO) by January 1, 2023. The two-phase transition plan allows existing dealers to operate under a reduced fee structure and the AMF’s current supervisory framework while they adapt their systems, with a permanent phase commencing approximately 18 months after the New SRO’s harmonized rule book is approved. These amendments ensure harmonized, coordinated oversight by the AMF and the New SRO while preserving Québec-specific features such as the Chambre de la sécurité financière’s mandate and existing investor protection fund contributions.