Quebec's Autorité des marchés financiers (AMF) unveiled an updated Supervisory Framework for Financial Institutions and Credit Assessment Agents, revising its supervisory approach to reflect the faster pace of change in the financial sector. The framework is designed to be more forward-looking, enabling more proactive intervention, while promoting transparent communications and greater predictability for regulated entities. The update places greater emphasis on regulated entity resilience and consumer protection, and is intended to improve coordination of supervisory activities as risks evolve rapidly. Key changes include providing institutions with clearer insight into how the AMF carries out its prudential mandate, strengthening communications with boards and senior management on areas for improvement and emerging issues, explicitly incorporating assessment of commercial practice risk for clients, and introducing an improved risk profile for assessing resilience; an information video outlining the main changes is also available on the AMF website.
Quebec Autorite des marches financiers 2025-01-16
Quebec's Autorité des marchés financiers updates supervisory framework for financial institutions and credit assessment agents
Quebec's Autorité des marchés financiers (AMF) updated its Supervisory Framework for Financial Institutions and Credit Assessment Agents to enhance proactive intervention and transparency. The revised framework emphasizes resilience and consumer protection, improves coordination of supervisory activities, and strengthens communication with boards and senior management. It also incorporates commercial practice risk assessments and introduces an improved risk profile for resilience evaluation.