The Autorité des marchés financiers (AMF) is
currently surveying the insurance industry on the application of
the Sound Commercial Practices Guideline (Guideline) that was
published and came into effect in June 2013. This Guideline is
unique to Quebec and applies to all insurers governed by
Quebec's Act respecting insurance. It sets out the
AMF's expectations regarding the legal requirement of insurers
and financial institutions to adhere to sound commercial practices
by developing strategies, policies and procedures based on the
nature, size, complexity and risk profile of their activities.
In the coming days, insurers and financial institutions will
receive a letter from the AMF asking them to complete a
questionnaire consisting of a self-assessment of their commercial
practices and the way the Guideline is being applied to, and
incorporated into, their activities. The AMF is also asking them
for additional information, particularly regarding the distribution
and
