D-9.2 - Act respecting the distribution of financial products and services

Section 85.1 Disposition versions

Not in force

In force: 2025-05-09

85.1. A firm that employs a person referred to in subparagraph 3 of the second paragraph of section 10 must ensure, before the date the person begins to exercise their functions in that respect and thereafter every three years, that the person:

(1)  has not made an assignment of property nor been placed under a receiving order pursuant to the Bankruptcy and Insolvency Act (R.S.C. 1985, c. B-3);

(2)  has not been convicted by a court inside Canada of an act or offence which is linked to the pursuit of the activity of representative;

(3)  is not under tutorship or under a protection mandate; or

(4)  does not hold a certificate that has been cancelled or suspended, or had restrictions or conditions imposed on it, by the discipline committee or by a body in Québec or another province or state that is responsible for supervising and monitoring persons acting as representatives.

Where a firm is aware that a person referred to in the first paragraph no longer meets the conditions required under that paragraph, the firm must cease to employ that person in that capacity. In addition, a firm must cease to employ such a person in that capacity if it is aware that the person has been convicted by a foreign court of an act or offence that is linked to the pursuit of the activity of representative.

2024, c. 15, s. 96.