Bureau des services financiers (Québec)
| Agency overview | |
|---|---|
| Formed | 1998 |
| Dissolved | February 1, 2004 |
| Jurisdiction | Canadian province of Quebec |
| Headquarters | Québec, Canada |
| Agency executive |
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The Bureau des services financiers (BSF) was a Quebec organization responsible for the distribution of financial products and services covering the various disciplines defined by the "Act on the distribution of financial products and services": Insurance of persons, group insurance of persons, damage insurance, claims adjudication, financial planning, mutual fund brokerage, brokerage in investment contracts and brokerage in stock exchange plans studies. The BSF was in operation from 1998 to 2004, while its mission was absorbed under the Autorité des marchés financiers (Québec).
The BSF issued practice fees through the certification of representatives and the registration of law firms, independent representatives and independent companies. In particular, it ensured that the conditions for eligibility for the certificate (minimum training, examinations, training periods) were met. It was also responsible for inspecting and controlling the activities of registrants and imposing sanctions, if necessary. It regulated distribution without a representative, including the approval of distribution guides that must be given to consumers.
In addition, the BSF was responsible for the Information and Referral Center, which provided consumers and industry with answers to their questions and, where appropriate, an accompaniment and support service for Any approach to the distribution of financial products and services. This information center was also the focal point for receiving complaints.
The "Bureau des services financiers" was in constant contact with a number of partner organizations, each of which had a role to play in consumer protection: the Chambre de l'assurance de dommages (Québec), Chambre de la sécurité financière (Québec), the Commission des valeurs mobilières du Québec, the "Financial Services Compensation Fund", the "Inspector General of Financial Institutions", and the Institut québécois de planification financière (IQPF).
Of these ten appointed members, five were chosen to represent the public and five from the financial planning, life and health insurance, property and casualty insurance, deposit insurance and mutual funds sectors.
The last five members came from the Chambers (three from the Chambre de la sécurité financière (Québec) and two from the Chambre de l'assurance de dommages (Québec)).
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