Regulatory Alerts2026-02-26
Notice of Consultation: Draft Regulation to Amend Regulation 31-103 Regarding CIRO Transition for Mutual Fund Dealer Representatives
The Autorité des marchés financiers (AMF) proposes amendments to Regulation 31-103 to facilitate the transfer of oversight for Québec mutual fund dealer representatives to the Canadian Investment Regulatory Organization (CIRO) by July 4, 2026. These changes ensure that currently registered representatives automatically become CIRO approved persons without requiring individual action, while aligning suspension mechanisms and statutory exemptions with CIRO rules. Concurrently, the AMF assumes full oversight responsibility for Québec scholarship plan dealer representatives on the same date, maintaining existing regulatory requirements without further amendments.
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