A new regulation from Québec’s financial regulator comes into force today (July 1, 2025), introducing a standardized framework for how consumer complaints are processed across the province’s financial sector.
The Regulation respecting complaint processing and dispute resolution in the financial sector, published by the Autorité des marchés financiers (AMF) in February 2024, applies to financial institutions, intermediaries, and credit assessment agents operating in Québec. The regulation is intended to establish clearer and more consistent procedures for addressing complaints, with the goal of improving transparency and accountability.
Under the new rules, firms will be required to formally acknowledge receipt of a complaint within a specified timeframe and inform the complainant of the next steps. Each organization must also maintain an internal file documenting the complaint, the actions taken, and the outcome. A final decision must typically be issued within 60 days of receiving the complaint.
Consumers who do not receive a response within the established timeframe, or who are not satisfied with the outcome, will be able to submit their complaint to the AMF for further review.
The regulation also introduces reporting obligations, requiring firms to submit annual statistics on complaints to the AMF. The regulator says this will allow for greater oversight and a clearer understanding of how complaints are being managed across the sector.
The regulation is based on domestic and international practices and was shaped by two rounds of public consultation. According to the AMF, the framework is intended to support consistency in how complaints are handled, regardless of the type of financial institution involved.
Its introduction coincides with the launch of the AMF’s 2025–2029 Strategic Plan, which includes a focus on enhancing the consumer experience in Québec’s financial marketplace.
To support implementation, the AMF has released guidance materials and tools to help firms understand their obligations and prepare for compliance ahead of the regulation’s effective date.
