Regulatory Alerts2020-07-02
AMF Regulatory Reminders for Québec-Authorized Financial Institutions
The Autorité des marchés financiers (AMF) issued updated regulatory reminders outlining prudential and commercial expectations for financial institutions operating under Québec law amid the COVID-19 pandemic. Institutions must maintain operational resilience through documented remote work procedures, robust information security, and strict adherence to segregation of duties while proactively managing money laundering, fraud, and cybersecurity risks. The regulator further mandates fair consumer treatment, transparent communication of relief measures, and flexible insurance premium adjustments to ensure client credit scores remain unaffected and business continuity is sustained.
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