Compensation for victims of financial fraud considered by AMF
Quebec's Autorité des marchés financiers today launched a public consultation to consider a potential compensation system for consumers of financial products and services that have been victims of fraud. Specifically, the AMF is seeking submissions on issues such as:
- the role of compensation among measures intended to protect consumers of financial products and services;
- accountability of consumers and representatives;
- fundamental objective of a compensation system;
- approach with respect to consumer compensation;
- responsibility for managing mechanisms intended to compensate victims of financial crime;
- products, representatives and conduct covered by the compensation fund; and
- funding the compensation fund and cost containment measures.
The AMF is accepting submissions from interested parties until February 7, 2012.
