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2012-06-15

Notice relating to filing of interim returns and other documents for the half year ending June 30, 2012 – Insurers of persons licensed in Québec

The Autorité des marchés financiers (AMF) mandates that insurers licensed in Québec submit all interim returns and related statutory documents electronically via its File Transfer Service (FTS) for the half year ending June 30, 2012. This directive eliminates routine paper filings, introduces mandatory compliance attestations for PDF, Excel, and ASCII files, and requires insurers to retain signed paper copies at their premises. The AMF has updated its administrative monetary sanctions framework to enforce these electronic filing obligations, removing personal reminders and applying penalties for late or non-compliant submissions.

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Notice relating to filing of interim returns and other documents for the half year ending June 30, 2012 – Insurers of persons licensed in Québec Under An Act respecting insurance, R.S.Q., 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, the documents and information it requires. To promote environmentally friendly practices and reduce insurers’ administrative burden, the AMF will no longer require paper copies of documents to be filed under the Act, with some exceptions. Interim returns as well as all other required documents and information must be submitted via the AMF website using the File Transfer Service (“FTS”). AMF Notice – Administrative monetary sanctions Electronic filing is now mandatory1 for all documents and information required under the Act and, in particular, the documents and information stipulated in the “Notice of the Autorité des marchés financiers relating to administrative monetary sanctions imposed for late filing of information or documents (sections 405.1 and following of An Act respecting insurance)”2 (the “sanctions framework”). The sanctions framework was revised in June 2012, to add: documents to the lists in the Appendices: Capital Adequacy Requirements (QFP) (half year), Attestation of Compliance of Versions for half-year filings and Attestation of Compliance of Versions for annual and half-year filings of OSFI-86, OSFI-87 and QFP forms; format requirements (ASCII, Excel and pdf); that failure to submit the required documents and information via FTS constitutes a default and could be subject to sanctions. The sanctions framework is available on the AMF website at http://www.lautorite.qc.ca/en/right￾practice-pers-pro.html. Please note that the AMF will no longer issue personal reminders prior to the filing due dates of these documents and information. Each insurer is responsible for submitting these statutory filings by the dates stipulated in the Act or determined by the AMF. The AMF will apply the sanctions framework to insurers who fail to comply with these obligations. Documents to file Appendices 1and 2 of this Notice set out the AMF’s specific requirements for each insurer and filing due dates.

1 See Decision 2012-PDG-0106 dated June 5, 2012, published in the AMF Bulletin of June 7, 2012, (2012) Vol. 9 no. 23, section 5.6 (in French only). 2 The revised sanctions framework was published in the AMF Bulletin of June 7, 2012, (2012), Vol. 9, no. 23, section 5.1 (in French only).

  • 2 - Documents to retain Paper copies of certain signed documents must be kept on file at the insurer’s premises so that they are available for examination by the AMF. These documents are identified by a “ ◊ ” in Appendices 1 and 2. Only the contact person designated by each insurer will receive an e-mail confirming receipt of documents. This confirmation is generated by the FTS once files are submitted via the AMF website. If no contact person has been designated, no confirmation will be sent. The AMF has developed an “Attestation of Compliance of Versions – Interim Return” form (new). This attestation must be completed in order to confirm that pdf, Excel and ASCII files transmitted via the AMF’s FTS contain the same financial data as does the paper copy of the interim return kept on file at your premises. This attestation is mandatory. If you transmit an amended ASCII file, a new attestation must be completed and sent to the AMF. This form is available on the AMF website at http://www.lautorite.qc.ca/en/insurance-person-life￾health-pro.html. It will also be included in the interim filing software sold by PricewaterhouseCoopers (PWC). Updated forms and instructions Appendices 1 and 2 of this Notice contain links to the instructions for interim filings and the changes made to various returns and statements. 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. The “Guide – Specific File Transfer Service (FTS) Requirements – Revised May 2012” (new) outlines the specific requirements of the Direction de la surveillance des assureurs (AMF Supervision of Insurers), including file names to be used. You can access the latest version of this guide at http://www.lautorite.qc.ca/en/insurance-person-life-health-pro.html. If you need assistance using the PWC software, contact Catherine MacLellan at 1 (877) 208-7100. Further information is available by sending an e-mail to info-divulgations@lautorite.qc.ca. June 14, 2012

Description of form Form Suffix Due before Interim Return LIFE-1◊ Hyperlink to instructions and updated forms : http://www.lautorite.qc.ca/en/financial-returns-pers-pro.html LIFE-1 pdf*, Excel, ASCII August 15 Attestation of Compliance of Versions (half year) - LIFE-1 (new) pdf August 15 QFP Disclosure Form on Capital Adequacy Requirements – Life and Health Insurance (QFP)◊ (June) (new) Hyperlink to instructions and updated forms: http://www.lautorite.qc.ca/en/capital-adequacy-requirements-pro.html QFP pdf*, Excel, ASCII August 15 Attestation of Compliance of Versions (half year) - QFP (new) pdf August 15 Interim Return LIFE-1◊ Hyperlink to instructions and updated forms : http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=677 LIFE-1 pdf*, Excel, ASCII August 15 Attestation of Compliance of Versions (half year) - LIFE-1 (new) pdf August 15 Minimum Continuing Capital and Surplus Requirements (MCCSR)◊ (June) - Canadian charter only Hyperlink to instructions and updated forms: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=677 OSFI-87 pdf*, Excel, ASCII August 15 Attestation of Compliance of Versions (half year) - OSFI-87◊ (new) - Canadian charter only pdf August 15 Interim Return LIFE-2◊ Hyperlink to instructions and updated forms : http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=679 LIFE-2 pdf*, Excel, ASCII August 15 Attestation of Compliance of Versions (half year) - LIFE-2 (new) pdf August 15 Test of Adequacy of Assets in Canada and Margin Requirements (TAAM)◊

  • The pdf files for LIFE-1, LIFE-2, S-3, S-20, QFP, OSFI-86 and OSFI-87 must be complete and in printable format. Therefore, they must contain signed documents. ◊ The paper version of the complete signed document must be kept on file at the insurer's premises. DOCUMENTS TO BE FILED BY INSURERS OF PERSONS LICENSED IN QUÉBEC DOCUMENTS REQUIRED FOR THE HALF YEAR ENDING JUNE 30, 2012 Québec Charter Canadian and Extra-provincial Charters (including Fraternal Benefit Societies) Foreign Charter (including Fraternal Benefit Societies) Mutual Benefit Associations - Québec Charter Funeral Insurance Companies - Québec Charter

APPENDIX 2 Description of form Form Suffix Due before Interim Return LIFE-1◊ Hyperlink to instructions and updated forms: http://www.lautorite.qc.ca/en/financial-returns-pers-pro.html LIFE-1 pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (half year) - LIFE-1 (new) pdf August 31 Capital Adequacy Requirements for Life Insurers◊ (QFP) (June) (new) Hyperlink to instructions and updated forms: http://www.lautorite.qc.ca/en/capital-adequacy-requirements-pro.html QFP pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (half year) - QFP (new) pdf August 31 Interim Return LIFE-1◊ Hyperlink to instructions and updated forms: http://www.osfibsif.gc.ca/osfi/index_f.aspx?ArticleID=647 LIFE-1 pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (half year) - LIFE-1 (new) pdf August 31 Minimum Continuing Capital and Surplus Requirements (MCCSR) for Canadian Life Insurance Companies and Fraternal Benefit Societies◊ (Canadian charter only) Hyperlink to instructions and updated forms: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=647 OSFI-87 pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (half year) - OSFI-87 (new) (Canadian charter only) pdf August 31 Interim Return LIFE-2 ◊ Hyperlink to instructions and updated forms: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=649 LIFE-2 pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (six months) - LIFE-2 (new) pdf August 31 Test of Adequacy of Assets in Canada and Margin Requirements (TAAM)◊ - Foreign Life Insurance Companies and Fraternal Benefit Societies Hyperlink to instructions and updated forms: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=649 OSFI-86 pdf*, Excel, ASCII August 31 Attestation of Compliance of Versions (half year) - OSFI-86 (new) pdf August 31 ◊ The paper version of the complete signed document must be kept on file at the insurer's premises (including the signed Attesation of Compliance of Versions).

  • The pdf files for LIFE-1, LIFE-2, QFP, OSFI-86 and OSFI-87 must be complete and in printable format. Therefore, they must contain signed documents. DOCUMENTS TO BE FILED BY REINSURERS OF PERSONS LICENSED IN QUÉBEC DOCUMENTS REQUIRED FOR THE HALF YEAR ENDING JUNE 30, 2012 Québec Charter Canadian and Extra-provincial Charters Foreign Charter
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