Regulatory Alerts2024-02-15
Regulation respecting complaint processing and dispute resolution in the financial sector
The Autorité des marchés financiers, approved by the Quebec Minister of Finance, has enacted a regulation mandating financial institutions and intermediaries to adopt standardized complaint processing and dispute resolution policies. The rules require entities to appoint a competent complaints officer, ensure objective and cost-free handling, maintain clear disclosure documents, and submit periodic reports on complaint volumes, outcomes, and systemic causes. Applicable across multiple Quebec financial statutes, the regulation defines eligible consumer complaints while excluding routine inquiries and standard insurance claims to streamline sector-wide redress mechanisms.
Share