AMF updates its Supervisory Framework for Financial Institutions and Credit Assessment Agents

MONTRÉAL, Jan. 16, 2025 /CNW/ - The Autorité des marchés financiers (the "AMF") today unveiled its updated Supervisory Framework for Financial Institutions and Credit Assessment Agents.

The AMF has updated its supervisory approach to adjust for the accelerated pace of change in the financial sector. The updated approach is more forward-looking and will enable the AMF to be more proactive in intervening with regulated entities. In addition to promoting transparent communications with regulated entities, the new approach provides financial institutions and credit assessment agents with predictability.

"Institutions are operating in an environment of unprecedented uncertainty, and our update to the supervisory framework focuses on the resilience of industry members and the protection of consumers doing business with them," said Patrick Déry, AMF Superintendent of Financial Institutions. "The adjustments we have made to our practices will enable us to more effectively coordinate our supervisory activities based on significant and rapid changes in risks."

The changes will also:

• Provide institutions with greater predictability and a window into how the AMF, as a prudential regulator, carries out its mission
• Support clear communications with institutions' boards of directors and senior management regarding areas for improvement or about emerging issues not yet been fully integrated into existing practices
• Specifically incorporate the assessment of commercial practice risk for clients so as to more clearly highlight the impact on clients
• Introduce an improved risk profile for assessing regulated entity resilience

An information video covering the main changes to the supervisory framework is available on the AMF website.

About the Autorité des marchés financiers

In its role as regulator, the Autorité des marchés financiers acts to maintain a financial sector that is dynamic, operates with integrity and warrants public confidence. It regulates, in whole or in part, activities in the following sectors: insurance, deposit institutions, securities and derivatives, distribution of financial products and services, mortgage brokerage and credit assessment.

SOURCE Autorité des Marchés financiers