Recognition of the Chambre de l'assurance: AMF announces effective date for recognition order and amendments for CIRO

MONTRÉAL, July 3, 2026  /CNW/ - 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.
• CIRO, visit the CIRO webpage devoted to Québec Mutual Fund Dealers.

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

About the Chambre de l'assurance
The Chambre de l'assurance protects the public by guiding the professional practice of its members. It oversees the continuing education requirements, ethics, and professional discipline of life and health representatives, group insurance representatives, financial planners (for ethics and discipline only), damage insurance agents, damage insurance brokers, and claims adjusters. www.chambreassurance.ca/en 

About CIRO
The Canadian Investment Regulatory Organization (CIRO) is the pan-Canadian self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Autorité des Marchés financiers