Regulatory Alerts2022-05-12
Notice of Consultation: Regulation to Amend Regulation 31-103 Regarding Québec Mutual Fund Dealer Transition to New SRO
The Autorité des marchés financiers proposes amendments to Regulation 31-103 to require Québec mutual fund dealers to become members of the new self-regulatory organization consolidating IIROC and MFDA activities. The transition is structured in two phases, beginning January 1, 2023, where dealers join the New SRO but remain under AMF oversight and existing Québec rules, before fully adopting the New SRO's harmonized rule book in a permanent phase. The Authority seeks public comments on the proposed transition timeline and closing date by June 27, 2022, to ensure adequate preparation time for firms to adjust their systems and compliance frameworks.
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