Definition
The Autorité des marchés financiers (AMF) is the single regulator of the Québec financial sector. It oversees securities dealers, financial security advisors, insurance brokers, and — since May 1, 2020 — mortgage brokers (Mortgage Brokerage Act, CQLR c. C-71.4).
Main mortgage-related responsibilities: issuance and renewal of broker licences (minimum 24 hours continuing education every 2 years), supervision of brokerages, handling of consumer complaints, indemnity fund, inspections, administrative sanctions. The AMF publishes a public registry of authorized brokers and firms (verifiable online).
Obligations imposed on brokers: written brokerage agreement (mandate) signed before any work, conflict-of-interest disclosure form, communication of commission amounts received from the lender, file retention 7 years. Any consumer can file a complaint or check the registry at www.lautorite.qc.ca.