In accordance with the Act to amend various provisions mainly with respect to the financial sector (Law 16), the recognition order for the Chambre de l’assurance (Chambre) will take effect on July 4, 2026.
Recognition of the Chambre is part of a larger effort to modernize regulation of Québec’s financial sector in line with Law 16 and establishes a more agile and resilient oversight framework, thereby enhancing several key dimensions of the Chambre, particularly in matters of governance.
The consequential amendments to the Canadian Investment Regulatory Organization (CIRO) recognition order will also take effect on July 4, 2026.
These changes will operate together to transfer responsibility for mutual fund dealer representatives to CIRO and responsibility for scholarship plan dealer representatives to the AMF.
“The coming into effect of these orders is a decisive step toward further simplifying and harmonizing regulation of the financial sector while maintaining public protection,” said Yves Ouellet, AMF President and CEO. “AMF, Chambre and CIRO staff have been fully engaged for the past few months and will continue to work closely together to ensure a smooth transition,” he added.
“The recognition order will allow the Chambre to operate in a spirit of transparency, agility and collaboration. These values are at the core of the decisions the AMF and CIRO have made to ensure an effective transition, and they will continue to guide our public protection and oversight actions in respect of our members,” said Chantal Lamoureux, Chambre President and CEO.
“We are honoured to expand our involvement in the regulatory oversight of mutual fund representatives in Québec. With today’s announcement, we have created greater regulatory clarity and a single point-of-contact for mutual fund dealers and their representatives, which will ultimately serve to protect investors in Québec. I want to commend the many departments at the AMF, the Chambre and CIRO, who have modelled an exemplary form of collaboration, moving quickly to solve challenges and get to the desired outcome—a smooth transition for the industry,” stated Andrew Kriegler, President and CEO of CIRO.
Legislative background
Chapter I of Law 16 came into force in July 2025. It modernized regulation of Québec’s financial sector and created the Chambre from the merger of the Chambre de la sécurité financière (CSF) and the Chambre de l’assurance de dommages (ChAD).
The Chambre continues the public protection mission previously carried out by the CSF and ChAD. However, Law 16 required its functions and powers with respect to mutual fund dealer representatives and scholarship plan dealer representatives to be transferred.
For more information on the key provisions of Law 16, visit the AMF website.
To stay up to date on aspects of the transition under the responsibility of:
- The Chambre, visit the Chambre website
This link will open in a new window. - CIRO, visit the CIRO webpage devoted to Québec Mutual Fund Dealers This link will open in a new window.
