History and role

History

The Financial Markets Administrative Tribunal was created by the Act respecting the Autorité des marchés financiersThis link open an external website in a new window., which came into force on December 3, 2003 as part of a major reform of the regulation of Québec's financial sector. The Tribunal has been in operation since February 1, 2004.

Formerly known as the Bureau de décision et de révision en valeurs mobilières and the Bureau de décision et de révision, the Tribunal's name was changed to Financial Markets Administrative Tribunal on July 18, 2016. The powers of the Tribunal have been broadened, in February 2009, to include derivatives and, in April 2010, to include insurance and the distribution of financial products and services. Its powers were subsequently extended, in April 2012, to money-services businesses. 

Role

The Financial Markets Administrative Tribunal plays three main roles:

  1. It hears, in first instance, applications by the Autorité des marchés financiers, under the powers stipulated in the Act respecting the Autorité des marchés financiersThis link open an external website in a new window., the Securities ActThis link open an external website in a new window., the Act respecting the distribution of financial products and servicesThis link open an external website in a new window., the Derivatives ActThis link open an external website in a new window. and the Money-Services Businesses ActThis link open an external website in a new window..
  2. It hears, in first instance, applications by interested persons, under the powers stipulated in the aforementioned statutes.
  3. It hears, in second instance and pursuant to the Securities ActThis link open an external website in a new window. and the Derivatives ActThis link open an external website in a new window., applications for review filed by persons directly affected by a decision rendered by the Autorité des marchés financiers, a recognized regulated entity or a recognized self-regulatory organization—for example, the Montréal ExchangeThis link open an external website in a new window. (MX), the Investment Industry Regulatory Organization of CanadaThis link open an external website in a new window. (IIROC), the Canadian Depository for Securities This link open an external website in a new window.and the Canadian Derivatives Clearing CorporationThis link open an external website in a new window.