Money-Services Businesses User Guide Licence application - Autorité des marchés ...
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Money-Services Businesses User Guide
(Money services and ATM operators)
Licence application
January 2019
1
INTRODUCTION .............................................................................................................. 3
WHO SHOULD USE THIS GUIDE? ............................................................................................ 3
STEP 1: COMPLETE AND SUBMIT THE LICENCE APPLICATION FORM TO
THE AMF ........................................................................................................ 5
WHERE TO FIND THE APPLICATION FORM ............................................................................. 5
WHERE TO SEND THE APPLICATION FORM ............................................................................ 5
NEXT STEPS .......................................................................................................................... 5
STEP 2: REGISTER FOR AMF E-SERVICES ............................................................. 6
STEP 3: DISCLOSE BUSINESS RELATIONSHIPS .................................................... 7
WHAT TO DISCLOSE ............................................................................................................ 10
HOW TO DISCLOSE A RELATIONSHIP ................................................................................... 11
DIRECTOR, PARTNER (ENTITY) OR PARTNER (PERSON) .............................................................................. 11
OFFICER OF MONEY-SERVICES BUSINESS ..................................................................................................... 15
OWNS OR CONTROLS BUSINESS (ENTITY OR PERSON) .................................................................................. 17
ESTABLISHMENT/BRANCH ............................................................................................................................ 19
BRANCH MANAGER ........................................................................................................................................ 22
EMPLOYEE WITH MONEY-SERVICES FUNCTIONS.......................................................................................... 23
EMPLOYEE WITH NO MONEY SERVICES FUNCTIONS..................................................................................... 25
FINANCIAL INSTITUTION ............................................................................................................................... 26
LENDER (ENTITY OR PERSON) ....................................................................................................................... 28
OFFICER, DIRECTOR OR PARTNER OF A LENDER (ENTITY) .......................................................................... 30
MANDATARY (ENTITY OR PERSON) ............................................................................................................... 31
MANDATARY’S OFFICER (ENTITY) ................................................................................................................ 32
BRANCH OF THE MANDATARY (ENTITY) ....................................................................................................... 33
PERSON RESPONSIBLE FOR KEEPING ATM SUPPLIED WITH CASH (ENTITY OR PERSON)............................ 35
AUTOMATED TELLER MACHINES .................................................................................................................. 36
VALIDATE AND SEND THE INFORMATION DISCLOSED BY THE ENTERPRISE .......................... 39
SUBMIT THE ADD/CHANGE BUSINESS RELATIONSHIPS APPLICATION .................................... 43
SENDING SUPPORTING DOCUMENTS .............................................................................................................. 45
STEP 4: PAY APPLICATION FEES ............................................................................ 46
PAYING THE FEES ............................................................................................................... 46
STEP 5: FOLLOW UP ON AND COMPLETE THE APPLICATION ..................... 47
APPLICATION PROCESSING TIME ........................................................................................ 47
FOLLOWING UP ON ON-LINE APPLICATIONS ........................................................................ 47
AFTER THE LICENCE IS ISSUED ............................................................................. 48
DEADLINES FOR NOTIFYING AMF OF CHANGES .................................................................. 49
2
INTRODUCTION
WHO SHOULD USE THIS GUIDE?
Money-Services Businesses Act (CQLR, c. E-12.000001)
Section 4. Licences of one or more of the following classes are issued by the Autorité
des marchés financiers (the Authority):
(1) currency exchange;
(2) funds transfer;
(3) the issue or redemption of traveller’s cheques, money orders or bank drafts;
(4) cheque cashing; and
(5) the operation of automated teller machines.
[...]
This Guide was prepared to assist money-services businesses (“MSBs”) which, following the
adoption of the Money-Services Businesses Act (CQLR, c. E-12.000001) (the “Act”), are
required to disclose information to the Autorité des marchés financiers (the “Authority” or the
“AMF”) in order to obtain a licence to offer money services.
A business which applies for a licence in one of the above classes must follow a five-step
process:
✓ Step 1: complete and submit the licence application to the AMF
✓ Step 2: register for the AMF’s on-line services
✓ Step 3: disclose the enterprise’s business relationships
✓ Step 4: pay the application fee
✓ Step 5: complete the application
This Guide explains in detail the steps of the licence application process, focusing on AMF E-
Services. This Web-based application enables money-services businesses applying for a
licence to disclose information about the persons and automated teller machines (ATMs)
related to their businesses.
This Guide contains only portions of the Regulation under the Money-Services Businesses Act,
the Regulation respecting fees and tariffs under the Money-Services Businesses Act and the
Policy Statement to the Money-Services Businesses Act. Therefore, you should read these
materials in more detail to familiarize yourself with all the legal and regulatory obligations of
businesses under the Act.
It is recommended that you read the Money-Services Businesses Act in its entirety.
The term “money-services business” and the acronym “MSB” are used in this Guide to make
the text easier to read, and cover all licence classes.
3
If an instruction only applies to the following four classes, it will be shown in an orange box
marked $$$.
• currency exchange;
• funds transfer;
• issue or redemption of traveller’s cheques, money orders or bank drafts;
• cheque cashing.
Example:
$$$
Only for: currency exchange, funds transfer, the issue or redemption of traveller’s
cheques, money orders or bank drafts, and cheque cashing
If an instruction only applies to operators of ATMs, it will be shown in a blue box marked ATM.
Example:
ATM
Only for: the operation of ATMs
4
STEP 1: COMPLETE AND SUBMIT THE LICENCE
APPLICATION FORM TO THE AMF
WHERE TO FIND THE APPLICATION FORM
$$$
The licence application form to operate a money-services business is available on the AMF
website under “Other mandates of the AMF / Money-Services Businesses / Licence
application / Money Services”.
ATM
The licence application for ATM operators is available on the AMF website under “Other
mandates of the AMF / Money-Services Businesses / Licence application / ATMs”.
You must answer all the questions on the form carefully and accurately.
WHERE TO SEND THE APPLICATION FORM
Once the form is completed, you must send it and all required documents to the AMF at the
following address:
Autorité des marchés financiers
Direction des contrats publics et des entreprises de services monétaires
Place de la Cité – Tour Cominar
2640, boul. Laurier, bureau 400
Québec (Québec) G1V 5C1
NEXT STEPS
Within 4 weeks of receiving your application form, the AMF will contact you asking you to
disclose your business relationships and describing the next step you need to follow to register
for AMF E-Services.
If your form is incomplete, you will be sent a letter about the missing documents or information.
Authorization to disclose your business relationships will be given to you once the AMF has
received these documents or information.
5
STEP 2: REGISTER FOR AMF E-SERVICES
Sole proprietorships: Since sole proprietorships do not have access to AMF
E-Services, they will be sent a letter with the appendices so that they can provide
the AMF with all the information required to obtain a licence.
Any money-services business or ATM operator wishing to apply for a licence under the Money-
Services Businesses Act must use AMF E-Services.
This service allows you to send all the information required in the next step (Step 3 – Disclose
business relationships) securely and quickly.
As explained in the letter you will receive, the business must have a clicSÉQUR – Business
user code and password to be able to use AMF E-Services. To obtain your clicSÉQUR –
Business user code, call Revenu Québec at 1-866-423-3234.
If you already have a clicSÉQUR – Business user code, follow the steps provided in the
Registering with clicSÉQUR and AMF E-Services section of the letter you receive about
disclosing your business relationships.
Once you have registered for E-Services, your respondent can access your client file. The
respondent will have access to the detailed menu and will be able to disclose your business
relationships.
6
STEP 3: DISCLOSE BUSINESS RELATIONSHIPS
We recommend that you contact the AMF staff member responsible for your file
before beginning this step to avoid filling out forms unnecessarily and to simplify the
disclosure process.
The disclosure of business relationships is the process through which a business applying for
a money-services business licence provides the AMF with:
• the individuals and/or entities related to it;
• its establishments;
• the financial institutions with which it deals;
• its lenders, mandataries and ATMs, where applicable.
ACCESSING YOUR CLIENT FILE USING AMF E-SERVICES
To access a client file using AMF E-Services, the respondent must:
1. Go to the AMF website (www.lautorite.qc.ca), click on the “Other mandates of the AMF”
tab, then on E-Services.
7
2. Click Log in (3rd option under Business) and enter your clicSÉQUR – Business user
name and password.
3. Once clicSÉQUR’s authentication process has been completed, the AMF E-Services
home page will appear.
4. From AMF E-Services, go to the “Client File” tab, then select “Manage business
relationships”.
5. A new page will appear. The respondent can now disclose the business relationships.
8
When the Manage business relationships function is accessed for the first
time, only the name of the business’s respondent will appear on screen. The
business must now disclose all its other business relationships.
Automatic logout: If there has been no activity for an extended period of
time, the system will automatically log you out and any unsaved information
will be lost. To access AMF E-Services again, you will have to re-enter your
user name and password.
On-line help: On-line help is identified by a question mark.
This icon, which appears on each AMF E-Services page, allows you to obtain assistance by
speaking with an Information Centre agent.
Mandatory fields: Most fields are preceded by a red star (*) or a blue cross (+).
- Fields preceded by a red star (*): you must fill out these fields in order to save the current
page. If the page is closed without all the (*) fields having been filled out, all the
information will be lost.
- Fields preceded by a blue cross (+): these fields are required, but will not prevent you
from saving the current page and returning to it later. However, all of these fields must
be filled out before you validate the relationships disclosed; otherwise, you will receive
error messages and will not be able to submit your Add/change business relationships
application to the AMF.
9
WHAT TO DISCLOSE
An MSB must disclose the appropriate relationships and attach the required supporting
documents for any natural person1 or legal person2 acting in one or more of the following
capacities:
Appendices to
Relationships to be disclosed
be provided
• Director OR Partner (natural person)
• Officer of the money-services business
• Employee with money-services functions
• Owns or controls the business (natural person)
$$$
• Branch manager Appendix A
• Employee without money-services functions
ATM
• Person responsible for keeping ATM supplied with cash (natural
person)
$$$
Appendix B
• Partner (legal person)
• Owns or controls the business (legal person)
• Mandatary (natural person) and/or Appendix D-1
• Mandatary (legal person) Appendix D-2
• Officer of mandatary Appendix D-3
• Lender (natural person) and/or Appendix E-1
• Lender (legal person), where applicable Appendix E-2
• Officer, director or partner of a lender Appendix E-3
• Establishment or branch
• Financial institution
ATM
• Automated teller machines
• Person responsible for keeping ATM supplied with cash (legal person)
1
“Natural person” means an individual.
2
“Legal person” means an entity.
10All types of business relationships which apply to the same person must be disclosed.
Example: A director of the MSB is also its officer and provides customers with money services.
Three types of business relationships must be disclosed for this person:
• Director;
• Officer of the money-services business;
• Employee with money-services functions.
His name will therefore appear three times in the list of relationships disclosed.
HOW TO DISCLOSE A RELATIONSHIP
Most relationships can be disclosed in any order. However, we recommend that
you disclose your relationships in the following order. If any of these relationships
does not apply to the business, skip it and move on to the next one.
DIRECTOR, PARTNER (ENTITY) OR PARTNER (PERSON)
A not-for-profit legal person or cooperative must disclose all the directors of the business who
are members of the executive committee (or the equivalent), i.e., those who have the following
roles: President, Vice-President, Secretary and Treasurer.
A business corporation must disclose ALL its directors.
A limited partnership or general partnership must disclose ALL its partners.
The directors or partners disclosed to the AMF must correspond to those disclosed to the
Registraire des entreprises du Québec (REQ) (Québec Enterprise Registrar).
Disclose relationships
1. From the disclose relationships function, choose one of the following relationships,
depending on the situation:
• Director;
• Partner (entity);
• Partner (person).
112. Then click Add.
3. A new page will appear.
4. Click
• If the name of the person/entity you want to disclose is already on the list that
appears, click his or her name. The information about the person/entity will appear
automatically on the page of the business relationship you are disclosing.
• If you do not find the person/entity you’re looking for, close the window and type in
the information about them:
- for a person (individual): gender, last name, first name, date of birth, home
address and references.
- for an entity (business): name, NEQ (the Québec enterprise number given by
the REQ), main address and references.
12How to enter an address in AMF E-Services
a) To enter an address in a business relationship, click
b) Type in a postal code and click Search.
c) Once the postal code that is entered has been analyzed, the site will propose a street
name, municipality and province. If the street name is incorrect, you can view and select
another street from the drop-down menu.
d) Then enter the civic number in the “Civic No.” field and click “OK” when you have
finished entering the address.
13Addresses in the United States and other countries must be entered manually by
clicking on the appropriate option button.
For U.S. zip codes, two formats are accepted: ones with five digits (ex.: 99999) and
ones with nine digits separated by a hyphen (ex.: 99999-9999).
Personal phone number: The number entered must follow the format 999 999-9999
(Canada or United States) or +99999999999 (international).
5. If the “Supporting documents” section shows that Appendix A has already been sent,
skip to the following point.
If no supporting document is ticked for the person being disclosed, choose Appendix
A for a director or partner (person) or Appendix B-2 for a partner (entity) and:
• “Paper” if you would like to send it by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you if you have already completed it and saved it on your computer,
then click Attach. Choose the file saved on your computer. The name of the file will
appear under “Electronic”. If you choose the wrong file, click Delete. The name of
the file will disappear. Click Attach again and choose the correct file saved on your
computer.
Other document: No document needs to be provided in the “Other document”
section. However, this section can be used to send additional documents if
necessary (for example, if the ID is on a separate page from the appendix, it can be
sent using the “Other document” section).
146. Once the on-line form is completed, click one of the following buttons.
This button lets you save the detailed information you have entered. When you click this
button, your information is saved and the “Disclose relationships” page appears.
This button lets you save the detailed information you entered. When you click this button,
your information is saved and a new page appears. The fields are refreshed so you can
disclose another relationship of the same type.
This button lets you return to the “Disclose relationships” page without saving
the information you have entered. When this button is clicked, you are asked
to confirm before returning to the “Disclose relationships” page. This button is
not available if an application is being analyzed by the AMF.
OFFICER OF MONEY-SERVICES BUSINESS
The MSB must disclose ALL of its officers.
An MSB which is a business corporation, a not-for-profit organization, an association with legal
personality or a cooperative must also disclose, as officers of the money-services business, all
persons with one of the following roles: President, Vice-President, Secretary, Treasurer and
principal officer (whether or not a Board member).
15Disclose relationships
1. From the disclose relationships function, select “Money-Services Business officer” then
click “Add”.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose the person’s name. In the case of a new person, type in the person’s
information.
4. Under the “Supporting documents” section, if no supporting document is ticked for the
disclosed person, choose Appendix A and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Select the file saved on your computer. The name of the file will appear
in E-Services. If you chose the wrong file, click Delete. The name of the file will
disappear. Click Attach again and choose the correct file from your computer.
5. Once the file for the relationship is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time and return to the “Disclose relationships” page without
saving your information.
16OWNS OR CONTROLS BUSINESS (ENTITY OR PERSON)
The MSB must disclose all persons or entities who directly or indirectly own or control the
business.
For purposes of the Act, the person or entity who owns the money-services business means:
• the owner of the securities of an MSB, whether they be shares, bonds or any other debt
securities;
• the holder of the real decision-making power over the securities of an MSB;
• the person or entity who holds securities registered in the name of an intermediary
acting in particular as a nominee, trustee or mandatary.
If an MSB is a public company, it must disclose the persons or entities holding 20% or more of
its securities, since the AMF considers, for the purpose of the Act, that only these persons or
entities have direct or indirect ownership of the MSB.
For purposes of the Act, the person or entity who controls the money-services business means:
• the person or entity who holds a sufficient number of the voting rights attached to all
outstanding voting securities of an MSB to affect materially the control of the business:
- If a person, acting alone or with other persons by virtue of an agreement, holds
more than 20% of the voting rights, the person is deemed to hold a sufficient
number of the voting rights to affect materially the control of the MSB.
- Influence is material where it allows participation in decisions related to the
orientations of the MSB.
• the person or entity who owns the securities of the money-services business enabling
the holder to elect in all cases a majority of the directors of the MSB;
• the person or entity who holds effective control of the administration or activities of the
MSB, whether this right or power is exercised via a management contract or otherwise.
If the business is controlled by a trust, disclose its trustee(s) and settlor(s) as the persons who
own the business.
17Disclose relationships
1. From the disclose relationships function, select
• “Owns or controls business (entity)” if you want to disclose a business;
• “Owns or controls business (person)” if you want to disclose an individual;
Then, click Add.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose the person’s name. In the case of a new person, type in the person’s
information.
4. In the “Description of ownership or control” box, provide details about the ownership or
control (number of shares, percentage of votes, trustee or settlor, etc.).
5. In the “Supporting documents” section, if no supporting document is ticked for the
disclosed person, choose Appendix A for an individual or Appendix B for an entity
and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
186. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
ESTABLISHMENT/BRANCH
The MSB must provide the address and telephone number of ALL its establishments, whether
money services are offered there or not.
Disclose relationships
1. From the disclose relationships function, select Establishment / Branch, then click
Add.
2. A new page will appear.
3. To disclose an establishment where the business does not offer any services relating
to currency exchange, the issue or redemption of traveller’s cheques, money orders or
bank drafts, cheque cashing or funds transfers OR to disclose an establishment where
the business only offers services relating to the operation of ATMs:
19• Identify the establishment by filling in the following template: Est. + Street name +
(name of MSB in parentheses). See the following example:
20$$$
4. To disclose an establishment where the business offers services relating to currency
exchange, funds transfers, the issue or redemption of traveller’s cheques, money orders or
bank drafts, and cheque cashing:
• Identify the branch by filling in the following template: Branch + Street name +
(name of MSB in parentheses). See the following example:
• Tick “Money services are offered at this address”.
5. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another
establishment or branch.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
You must name at least one branch manager for each branch disclosed.
21$$$
BRANCH MANAGER
For each branch of the MSB disclosed, all the branch officers who are responsible for the
money services must be disclosed. The MSB must disclose at least one branch manager for
each branch.
Disclose relationships
1. From the link for “Establishment / Branch” relationship you disclosed, click Add.
2. Select “Branch manager”, then click Add.
3. A new page will appear.
4. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
5. In the “Supporting documents” section, if no supporting document is ticked for the
disclosed person, choose Appendix A and:
• Paper if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• Electronic if you have already completed it and saved it on your computer, then click
Attach. Choose the file saved on your computer. The file name will appear in E-
Services. If you chose the wrong file, click Delete. The file name will disappear. Click
Attach again and choose the correct file saved on your computer.
226. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
EMPLOYEE WITH MONEY-SERVICES FUNCTIONS
$$$ • deals
ATMwith the lenders and co-contracting
parties of the money-services business.
The MSB must disclose ALL of its employees Fait les contractants
working in Québec whose functions are related
to the money services offered. A money-services business applying for a
licence only for the class relating to the
The expression “employee whose functions are
related to the money services offered” means, in operation of automated teller machines
particular, any person employed by the money- must provide only a list of employees whose
services business who: functions are related to the operation of
automated teller machines.
• gathers personal information on money-
services customers; The expression “employee whose functions
• identifies or verifies the identity of money- are related to the operation of automated
services customers; teller machines” means, in particular, any
• has access to currencies, cheques, person employed by the money-services
traveller’s cheques, money orders or bank business who:
drafts;
• supervises the activities of the money- • as part of his functions, keeps the
services business or of another employee machine supplied with cash;
whose functions are related to the money
• has access to the content and
services offered;
functions of an automated teller
• has access to the safety deposit boxes or
machine;
other storage facility of the money-
services business; • participates in accounting activities
• has access to the accounts of the or administrative tasks;
business held at the financial institutions • helps prepare the records and
with which the business deals; registers prescribed by the Act and
its Regulations.
23Disclose relationships
1. From the link for the “Establishment / Branch” relationship you disclosed, click Add.
2. Select “Employee with money services functions”, then click Add.
3. A new page will appear.
4. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
5. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose Appendix A and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
6. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
24$$$
EMPLOYEE WITH NO MONEY SERVICES FUNCTIONS
An MSB who carries on business in a class other than the operation of an ATM must also
disclose its employees working in Québec who do not have money services functions.
Disclose relationships
1. From the disclose relationships function, select the relationship “Employee with no
money services functions”, then click Add.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
4. In the “Description of functions” box, provide details about the employee’s functions.
5. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose Appendix A and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
6. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
25FINANCIAL INSTITUTION
The MSB must disclose all the financial institutions with which it deals.
The financial institutions referred to are those that provide banking or financial services to the
business. For example, the business must disclose the financial institutions with which it has a
bank account or a loan.
Disclose relationships
1. From the disclose relationships function, select “Financial institution”, then click Add.
2. A new page will appear.
3. Select the financial institution from the drop-down menu.
264. Enter the requested information in the field below.
In this field you can enter several account or loan numbers as well as several
addresses if you deal with different branches of the same financial institution.
5. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another financial
institution.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
27LENDER (ENTITY OR PERSON)
The MSB must disclose all the lenders with whom it entered into a contract for the loan of
money or property who are not financial institutions.
Disclose relationships
1. From the disclose relationships function, select the relationship:
• “Lender (entity)” if you want to disclose a business;
• “Lender (person)” if you want to disclose an individual;
Then click Add.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
4. In the “Description of the nature of the loan” box, provide details about the loan (amount,
conditions, repayment terms, etc.).
5. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose Appendix E-1 for a person or Appendix E-2 for an entity
and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will show in E-
services. If you chose the wrong file, click Delete. The file name will disappear. Click
Attach again and choose the correct file from your computer.
286. Also, for each “Lender” business relationship, you must attach the documents
evidencing the loan. In this regard, choose “Document No. 01” and/or “Document No.
02” under point 2. Document(s) evidencing loan in the “Supporting documents” section
and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it out and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
7. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person
with the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
29OFFICER, DIRECTOR OR PARTNER OF A LENDER (ENTITY)
For each lender (entity) of the MSB, all the officers, directors or partners of the lender must be
disclosed.
Disclose relationships
1. From the “Lender (entity)” relationship you disclosed, click Add.
2. Select “Officer / director / partner of a lender (legal person)”, then click Add
3. A new page will appear.
4. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
5. In the “Supporting documents” section, choose “Appendix E-3” and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
6. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
30$$$
MANDATARY (ENTITY OR PERSON)
The money-services business is required to provide a list of all its mandataries. For purposes
of the Act, a mandatary is a person who, by virtue of an agreement, conducts one or more
money services on behalf of a money-services business. The mandatary acts for and on behalf
of the money-services business for specific or general purposes.
Disclose relationships
1. From the disclose relationships function, select the relationship:
• “Mandatary (entity)” if you want to disclose a business;
• “Mandatary (person)” if you want to disclose an individual;
Then click Add.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
4. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose “Appendix D-1” for a natural person or the “Appendix D-2” for
a legal person and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
315. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
$$$
MANDATARY’S OFFICER (ENTITY)
For each mandatary (entity) of the MSB, all the officers responsible for the money services of
the mandatary must be disclosed.
Disclose relationships
1. From the “Mandatary (entity)” relationship you disclosed, click Add.
2. Select “Mandatary’s officer”, then click Add.
3. A new page will appear.
324. If the person you want to add has already been disclosed in another relationship, click
Select and choose his or her name. In the case of a new person, type in the person’s
information.
5. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose “Appendix D-3” and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
6. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
$$$
BRANCH OF THE MANDATARY (ENTITY)
If a mandatary offers money services at an address which is different from the main address
disclosed under the “Mandatary (entity)” relationship, the MSB must disclose the other
addresses as mandatary branches of the mandatary.
Disclose relationships
1. From the “Mandatary (entity)” relationship you disclosed, click Add.
332. Select “Branch of the mandatary (legal person)”, then click Add.
3. A new page will appear.
4. Identify the branch of the mandatary by filling in the following template: Branch of
mand. + Street name + (name of MSB in parentheses).
5. Once the relationship file is finished, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another mandatary
branch.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
34ATM
PERSON RESPONSIBLE FOR KEEPING ATM SUPPLIED WITH CASH (ENTITY OR PERSON)
For each ATM operated by the business, the MSB must disclose all persons responsible for
keeping the machine supplied with cash.
Disclose relationships
1. From the disclose relationships function, select the relationship:
• “Entity responsible for keeping ATM supplied with cash” if you want to disclose a
business;
• “Person responsible for keeping ATM supplied with cash” if you want to disclose an
individual;
Then, click Add.
2. A new page will appear.
3. If the person you want to add has already been disclosed in another relationship, click
Select and choose his/her/its name. In the case of a new person, type in the person’s
information.
4. In the “Supporting documents” section, if no supporting document is added for the
disclosed person, choose “Appendix A” and:
• “Paper” if you want to send it to us by fax (at 418-525-1990) or by regular mail;
• “Electronic” if you have already completed it and saved it on your computer, then
click Attach. Choose the file saved on your computer. The file name will appear in
E-Services. If you chose the wrong file, click Delete. The file name will disappear.
Click Attach again and choose the correct file from your computer.
35You do not have to provide any supporting document under the “Entity
responsible for keeping ATM supplied with cash” link.
5. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Disclose
relationships” page; or
• Save and new if you want to save your information and disclose another person with
the same relationship.
You can click Cancel at any time to return to the “Disclose relationships” page without saving
your information.
ATM
AUTOMATED TELLER MACHINES
The MSB must disclose all ATMs it operates.
Disclose relationships
1. From the AMF E-Services menu, go to the “Client File” tab, then select “Manage
business relationships”.
2. A new page will appear. Select the “Automated teller machines (ATMs)” tab.
363. Click the Add button at the bottom of the page.
4. Type in the requested information.
• Serial number, make and model and Maximum amount ATM can contain (ex.:
LRL161312121212, TRITON RL1613, $20,000)
• Fixed/Mobile:
- Tick Fixed if the ATM is permanently installed at a location (convenience
store, restaurant, etc.).
- Tick Mobile if ATM is temporarily installed at a location and will eventually
be moved (festival, tradefair, exhibition, etc.). If you tick the “Mobile” box, the
“… specify date until when ATM will be at this location” field activates and
must be filled out. To do so, click the field and give a date using the calendar.
• Type of location: select the appropriate type of location for this ATM from the drop-
down menu. If you select “Other”, the “Other type” field becomes available and must
be filled out.
- Other type: enter a type of location for this ATM (ex.: University of Montréal).
• Location details: enter the information about the location (ex.: installed at the south
entrance to the University of Montréal near the cafeteria).
• Address:
- If the ATM is located in an establishment of your business and you have
already disclosed that establishment in the Disclose relationships section,
click Establishment already disclosed, then Select, and choose the
appropriate value from the drop-down menu.
- If the ATM is located in an establishment that does not belong to your
business, select “Other address” and click Obtain an address to disclose
that location.
37• Leased commercial space: Is the ATM located in an establishment other than your
business?
- Answer “Yes” if the ATM is located in an establishment that does not belong
to your business and indicate the name of the business or individual who
owns the location along with their address and telephone number.
- Answer “No” if the ATM is located in an establishment that belongs to your
business and skip to the next section.
• Disclosed person/entity responsible for keeping ATM supplied with cash:
- Click the arrow to access the list of persons or entities already disclosed as
being responsible for keeping the ATM supplied with cash and select the
person to be added.
- Click Add.
The name of the selected person will appear in the list of persons/entities
responsible for keeping the ATM supplied with cash. Repeat the operation for
every person responsible for keeping the ATM supplied with cash to be
disclosed.
5. Once the relationship file is completed, click:
• Save and return if you want to save your information and return to the “Automated
teller machines” page; or
• Save and new if you want to save your information and disclose another ATM.
You can click Cancel at any time to return to the page “Automated teller machines” without
saving your information.
38VALIDATE AND SEND THE INFORMATION DISCLOSED BY THE ENTERPRISE
When the business has finished entering all its business relationships, it must validate the
information entered to ensure that it is complete.
1. From the Manage business relationships application, click “Validate” at the bottom of
the screen.
392. Once the system has finished the validation:
If your application contains errors or is missing relationships or information, you will
receive an error message in red at the top of the screen.
If the validation process returns error messages, the business must make the necessary
corrections before submitting its Add/change business relationships application to the
AMF.
40Once all the errors are corrected, refresh the validation until you see a message
confirming that your relationships have been validated.
You will not be able to submit your Application to add/change relationships
to the AMF as long as the validation gives you an error message.
413. If you did not receive an error message or when you have finished responding to all the error
messages you received, click “Next step”.
42SUBMIT THE ADD/CHANGE BUSINESS RELATIONSHIPS APPLICATION
Once you have clicked Next step, the “Add/change business relationships” page will appear.
It contains the last four steps you must complete to send the information you have disclosed to
the AMF for analysis.
1. Click the Next button in Step 1: “Identification and description of application or request”.
2. Click Next in Step 2: “Summary of business relationships and ATMs disclosed”.
433. In Step 3: Transmission, tick the box “I declare that the information provided herein is
accurate.” and click Submit.
4. Step 4: Confirmation of delivery confirms that the AMF has received your application.
The system indicates your Client number and your application/request number. Please
print the information and keep it since you will need it in all correspondence with the
AMF.
If you do not submit the Add/change business relationships application, the AMF will
not be notified of the changes (including any additions and deletions) you have made
to the list of your business relationships and will not be able to review the changes.
After the application has been sent, an acknowledgement of receipt will be sent to the “Secure
message inbox” section of the AMF E-Services.
The AMF considers the date of receipt of information regarding the addition, change or deletion
of a business relationship to be the date on which the Add/change business relationships
application is sent, not the date on which these changes were entered in the Manage business
relationships function.
44SENDING SUPPORTING DOCUMENTS
If you have chosen to send the supporting documents in paper format, please include de
digitization forms that were sent to you with the acknowledgement of receipt.
$$$
The appendices are available on the AMF website under Money-Services Businesses >
Licence application > Appendices – Money Services.
ATM
The appendices are available on the AMF website under Money-Services Businesses >
Licence application > Appendices – ATM.
An appendix must be submitted for each relationship disclosed. The appendix must be filled
out and signed by the individual or authorized signatory of the legal person who is disclosed
for the relationship. If any question is left unanswered, the form will be returned to the business.
Please send the documents to the following address:
Autorité des marchés financiers
Direction de la certification et de l’inscription
Place de la Cité – Tour Cominar
2640, boul. Laurier, bureau 400
Québec (Québec) G1V 5C1
If, after analyzing the Add/change business relationships application, the AMF
determines that certain information is inaccurate, incomplete or missing, it will contact
the respondent so that he or she can make the necessary corrections.
45STEP 4: PAY APPLICATION FEES
PAYING THE FEES
After your Add/change business relationships application is processed, you will receive the
following e-mail notifying you that the AMF has sent your E-Services invoice electronically.
Message heading:
You have mail from the AMF.
Body of message:
You have unread messages in your inbox. Please read them by signing in to your account via
AMF E-Services at www.lautorite.qc.ca.
This message is generated automatically. Please do not use the Reply function to contact us.
Instead, sign in to your account at the above address, or contact the AMF Information Centre at
1-877-525-0337.
To ensure these reminders are not classified as spam, be sure to write the sender’s address
shown above in your approved senders list.
To consult the invoice:
a) Open an AMF E-Services session.
b) From the E-Services menu, go to the “Client File” tab.
c) Select “Statement of account”, then “View”.
Your invoice will include a $124 charge for each security clearance report requested for each
person or entity disclosed as well as a $221 fee for each ATM operated, if applicable.
Payment is due upon receipt.
You may pay your invoice by credit card on-line or by cheque made payable to the Autorité des
marchés financiers sent to the following address:
Autorité des marchés financiers
Place de la Cité – Tour Cominar
2640, boul. Laurier, bureau 400
Québec (Québec) G1V 5C1
No licence will be issued until the fees have been paid. The fees are not refundable.
46STEP 5: FOLLOW UP ON AND COMPLETE THE APPLICATION
APPLICATION PROCESSING TIME
Receipt of your invoice indicates that your file has been sent to the Sûreté du Québec (SQ)
and the police in the area where you carry on business. Please allow 30 to 45 days to receive
notice of the decision regarding your file.
FOLLOWING UP ON ON-LINE APPLICATIONS
At any time after an application has been submitted, the business can follow up on it and view
its content.
To access an application that has been submitted through AMF E-Services, go the Client File
tab and then “Follow-up on applications/requests”.
The “Follow up on applications/requests” page will appear. If you are registered with the AMF
under several statutes, you can use the drop-down menu to sort the applications by AMF unit.
The “Status” column indicates the status of your application. Four status types are possible:
• Being analyzed at AMF: This status indicates that the processing of your
application/request has not been completed. The time required for an analysis depends
on the nature of the application/request.
• Waiting for client: This status indicates that the application/request is incomplete
because information, a document or payment is missing. The missing item must be
provided so the AMF can complete its analysis.
• Waiting for third party: This status indicates that the AMF is waiting for an answer from
one of its partners (SQ, police, etc.).
• Processed: This status indicates that your application/request has been processed and
a decision has been entered in your file. The result will be sent to you shortly by regular
mail.
47LICENCE APPLICATION DECISION
When the AMF is sure there are no grounds for refusing to issue the licence, it will mail the
authorization to the MSB concerned. If the MSB operates ATMs, it will receive stickers that it
must place on its machines. Additional instructions will be provided with the authorization.
If, during its analysis, the AMF discovers grounds for refusing to issue a licence, it will indicate
those grounds to the MSB’s respondent, who will have 30 days to submit written comments
or provide other documents to complete its file.
AFTER THE LICENCE IS ISSUED
The MSB is required to notify the AMF of any change to the information it provided. The
changes may be grouped together as follows:
• Addition of classes;
• Addition, withdrawal or change of a business relationship (person or entity,
establishment, financial institution, lender, mandatary, etc.);
• Addition or withdrawal of ATMs;
• Change of respondent;
• Reprint of licence or ATM sticker;
• Removal of a class or withdrawal of licence.
If you make any of the above changes after your licence is issued, we suggest that you call us
at 1-877-525-0337 or e-mail us at direction-lcop-esm@lautorite.qc.ca for help updating your
file.
48DEADLINES FOR NOTIFYING AMF OF CHANGES
The MSB must notify the AMF immediately of any change which could affect the validity of
its licence.
However, for any withdrawal of individuals or change to the information about them, the MSB
must notify the AMF within 15 days of the end of the month during which the change occurred.
Example: An employee leaves the MSB on March 6. The MSB has until April 15 to notify the
AMF.
Money-Services Businesses Act (CQLR, c. E-12.000001)
Section 3: A person or entity operating a money-services business for remuneration
must hold a licence of the appropriate class.
Section 67: A person who contravenes any of sections 3, 22 to 35 and 63 to 65 is
guilty of an offence and liable to a fine of not less than $5,000 nor more than $50,000
in the case of a natural person and not less than $15,000 nor more than $200,000 in
the case of a legal person or other entity.
If the offender is a money-services business whose licence has been suspended or
revoked under section 17, it is liable to an additional fine of not less than $10,000 nor
more than $100,000.
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