C-67.3, r. 2.1 - Regulation respecting the supervisory information of financial services cooperatives

Updated to 12 December 2023

This document has official status.

chapter C-67.3, r. 2.1

Regulation respecting the supervisory information of financial services cooperatives

Act respecting financial services cooperatives

(chapter C-67.3, ss. 564.1 and 564.2).

1. For the purposes of section 564.1 of the Act respecting financial services cooperatives (chapter C-67.3) and in addition to the information protected under the professional secrecy of an advocate or notary, by litigation privilege or by a communication restriction provided for by the rules governing the law of evidence, in favour of a financial services cooperative and communicated by the financial services cooperative to the Autorité des marchés financiers, such information and the following information, held by a financial services cooperative in relation to the supervision of the financial services cooperative by the Autorité des marchés financiers, is confidential information:

(1)  any risk profile assessment rating assigned to the financial services cooperative, when the rating is established by the Autorité des marchés financiers or a federation or a third person based on information obtained from them;

(2)  any intervention stage rating assigned to the financial services cooperative under a framework of the Autorité des marchés financiers for the supervision of financial institutions;

(3)  any instruction, order or recommendation, or any report produced by the Autorité des marchés financiers or a federation with regard to the financial services cooperative under the powers conferred by the Act respecting financial services cooperatives;

(4)  any report, including a self-assessment, produced by the financial services cooperative at the request of the Autorité des marchés financiers or of a federation under the powers of inspection conferred by the Act respecting financial services cooperatives;

(5)  any correspondence exchanged between the Autorité des marchés financiers and the federation, as the case may be, and the directors, officers or managers of the financial services cooperative with regard to the information referred to in this section.

M.O. 2020-11, s. 1.

2. For the purposes of paragraph 2 of section 564.2 of the Act respecting financial services cooperatives (chapter C-67.3), the financial services cooperative concerned by the information referred to in section 1 may use that information as evidence in any proceedings referred to in that paragraph, provided an order is made to prohibit or restrict its publication, disclosure or dissemination, or an order is made for a hearing in camera.

M.O. 2020-11, s. 2.

3. (Omitted).

M.O. 2020-11, s. 3.

REFERENCES

M.O. 2020-11, 2020 G.O. 2, 1668