AMF: Time for PQ insurers to report consumer complaints

After a delay granted for 2005, the consumer complaint declaration function of the Autorit des marchs financiers (AMF)’s Complaint Reporting System is now available to insurance and other financial companies required to report complaints in the new system, the AMF has announced.
The AMF together with the Financial Services Commission of Ontario launched the Complaint Reporting System on October 11, 2005. The Internet-based system helps financial products and services companies fulfill their obligation to report complaints from consumers.
Quebec financial companies have until Apr. 28, 2006 to declare any complaints received during the period from July 1 to Dec. 31, 2005.
The AMF did not specify the cause of the delay in its Internet posting. “The delay granted for 2005 is exceptional, and subsequent declaration dates will follow the original semi-annual timetable namely, complaints received during the period from Jan. 1 to June 30, 2006, must be reported no later than July 30, 2006,” the AMF announced.
“Complaints received during the period from July 1 to Dec. 31, 2006 must be reported no later than Jan. 30, 2007 regardless of whether or not you have any complaints to declare.”
Also, the AMF stated: “Exceptionally, independent representatives are not required to report complaints received in 2005. Only complaints received starting in January 2006 must be entered in the new system and reported based on the frequency previously determined. Independent representatives must therefore make their first declaration no later than July 30, 2006.”