S-29.02, r. 3 - Regulation respecting the supervisory information of authorized trust companies

Updated to 12 December 2023

This document has official status.

chapter S-29.02, r. 3

Regulation respecting the supervisory information of authorized trust companies

Trust Companies and Savings Companies Act

(chapter S-29.02, ss. 156 and 157).

1. For the purposes of section 156 of the Trust Companies and Savings Companies Act (chapter S-29.02) 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 an authorized trust company and communicated by the authorized trust company to the Autorité des marchés financiers, such information and the following information, held by an authorized trust company in relation to the supervision of the authorized trust company by the Autorité des marchés financiers, is confidential information:

(1)  any risk profile assessment rating assigned to the authorized trust company, when the rating is established by the Autorité des marchés financiers or a third person based on information obtained from the Autorité des marchés financiers;

(2)  any intervention stage rating assigned to the authorized trust company 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 with regard to the authorized trust company;

(4)  any report, including a self-assessment, produced by the authorized trust company at the request of the Autorité des marchés financiers;

(5)  any correspondence exchanged between the Autorité des marchés financiers and the directors or officers of the authorized trust company with regard to the information referred to in this section.

M.O. 2020-12, s. 1.

2. For the purposes of paragraph 2 of section 157 of the Trust Companies and Savings Companies Act (chapter S-29.02), the authorized trust company 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. 2020-12, s. 2.

3. (Omitted).

M.O. 2020-12, s. 3.

REFERENCES

M.O. 2020-12, 2020 G.O. 2, 1669