MONTREAL, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The Conseil des fonds d’investissement du Québec (CFIQ) today filed its submission to the Autorité des marchés financiers (AMF) in response to its consultation on the Regulation Respecting Complaint Processing and Dispute Resolution in the Financial Sector (Draft Regulation).
“CFIQ recommends that mutual fund dealers, investment dealers and dually registered dealers that operate in Quebec should be exempt from the Draft Regulation and instead be subject to the rules set out by the New Self-Regulatory Organization of Canada for complaint handling and dispute resolution,” said Eric Hallé, Chair of the CFIQ Board of Governors. “This harmonization across Canada will help reduce complexity and redundancies, contributing to the ultimate goal of the New SRO as determined by the Canadian Securities Administrators.”
In its submission, CFIQ also recommended that exempt firms be permitted to adhere to the regulatory status quo until the new rules come into effect.
About CFIQ
CFIQ is the Quebec voice of The Investment Funds Institute of Canada (IFIC). IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.
For more information:
Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317
