Notice Regarding Deposit Protection

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Notice regarding deposit protection
Effective June 13, 2019, the Deposit Insurance Act, CQLR, c. A-26, will become the Deposit Institutions and Deposit Protection Act, CQLR, c. I-13.2.2 (DIDPA). This name change is concurrent with the coming into force of certain provisions of An Act mainly to improve the regulation of the financial sector, the protection of deposits of money and the operation of financial institutions (2018, c. 23) relating to, in particular, the regulation and authorizations of deposit institutions. The DIDPA provides that institutions registered under the Deposit Insurance Act will now be authorized deposit institutions. Deposit insurance will now be referred to as deposit protection in DIDPA terminology. The Regulation respecting the application of the Deposit Insurance Act will be updated soon to reflect these legislative changes. In the interim, the regulation will continue to apply, with the necessary modifications. The AMF has updated the authorized deposit institutions and deposit protection sections of its website. In the coming weeks, its brochure Your deposits are protected. That’s a guarantee! and its official logo indicating that an institution is authorized to receive deposits will be revised and distributed to authorized deposit institutions. Additional information Additional information may be obtained from the AMF Information Centre at:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337 www.lautorite.qc.ca
June 13, 2019