Regulatory Alerts2014-11-04
Notice Relating to Filing of Annual Returns and Documents for Insurers Licensed in Quebec – Fiscal Year Ended October 31, 2014
The Autorité des marchés financiers requires Quebec-licensed insurers to electronically file annual returns and supporting documents via the File Transfer Service for the fiscal year ended October 31, 2014. Updated LIFE Annual Return forms mandate a dual-director sworn affidavit and a revised Attestation of Compliance, while requiring insurers to retain complete paper copies on premises for potential examination. Failure to submit these documents within prescribed deadlines exposes insurers to administrative monetary sanctions under section 405.1 of the Act respecting insurance.
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