Regulatory Alerts2020-03-31
Notice on Regulatory and Administrative Relief Measures for Certain Provisions of the Deposit Institutions and Deposit Protection Act – COVID-19
The Autorité des marchés financiers (AMF) has implemented specific regulatory and administrative relief measures for Québec-chartered deposit institutions to address operational challenges during the COVID-19 pandemic. The AMF will defer the first deposit insurance premium instalment to December 15, 2020, and provides case-by-case flexibility for filing guaranteed deposit declarations while maintaining a December 15 deadline. Additionally, the regulator expects best-efforts compliance with new depositor information requirements and has postponed both compliance testing and the implementation of data requirements 3.0 to align with federal timelines.
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