2016-04-04
The Autorité des marchés financiers requires Quebec-licensed damage insurers with an October 31 year-end to electronically file signed interim returns, compliance attestations, and related documents via the File Transfer Service by June 14, 2016. Insurers must retain complete paper copies at their premises for potential examination and adhere to specific file naming conventions outlined in the FTS requirements guide. Failure to submit these documents within the prescribed timeframe may result in administrative monetary sanctions under section 405.1 of Quebec's Insurance Act.
Notice of the Authority relating to filing of interim returns and other documents for the half year ending April 30, 2016 – Damage (“P&C”) insurers licensed in Quebec Under An Act respecting insurance, CQLR, c. A-32, (the “Act”), every insurer is required to file with the Autorité des marchés financiers (the “AMF” or the "Authority"), in such form as the AMF may determine and within the prescribed time period, the documents and information required under the Act or requested by the AMF pursuant to specific provisions of the Act (the “required or requested documents and information”). All required or requested documents and information must be filed electronically via the AMF website using the File Transfer Service (“FTS”)1 . See Appendix attached to this Notice concerning specific AMF requirements for the filing of April 30, 2016. A complete set of paper copies of the signed documents must be kept at the insurer’s premises so that they are available for examination by the AMF, if necessary. Administrative monetary sanctions We remind you that each insurer is responsible for ensuring that the AMF receives, within the prescribed time periods, all required or requested documents and information in all forms as required. Under section 405.1 of the Act, the AMF may impose an administrative sanction where any of the documents referred to in the Appendices are filed late or are not filed. The Notice of the Autorité des marchés financiers related to administrative monetary sanctions imposed for late filing of information or documents (sections 405.1 and following of the Act ) 2 (the “sanctions framework”) is posted on the AMF website at: http://www.lautorite.qc.ca/en/right-practice-pro.html. Electronic submission of financial returns and other documents The File Transfer Service (FTS) User Guide explains the procedure for submitting data via the AMF website. To consult this guide, access the FTS and click on Help. 1 Decision no. 2012-PDG-0106 (in French only) dated June 5, 2012 and published in the AMF Bulletin of June 7, 2012, vol. 9, no. 23, section 5.6. 2 Update published in the AMF Bulletin (in French only) dated June 7, 2012, vol. 9, no. 23, section 5.1.
The Guide – Specific File Transfer Service (FTS) Requirements (the “guide of specific requirements”) contains instructions from the Direction principale de la surveillance des assureurs et du contrôle du droit d’exercice (Senior Direction, Supervision of Insurers and Control of Right to Practise), such as the appropriate file naming convention. Please note that the guide of specific requirements does not list the required or requested documents and information and the dates by which they are to be filed. The Guide – Specific File Transfer Service (FTS) Requirements is available on the AMF website at: http://www.lautorite.qc.ca/en/financial-returns-pro.html. Further information Further information is available by sending an e-mail to: info-divulgations@lautorite.qc.ca. April 21, 2016
DAMAGE INSURERS LICENSED IN QUEBEC WITH AN OCTOBER 31 YEAR-END DOCUMENTS REQUIRED FOR THE HALF YEAR ENDING APRIL 30, 2016 Unstructured Return Code File Formats Due date