Fonds d'indemnisation des services financiers

The Fonds d’indemnisation des services financiers (FISF) was created by the Act respecting the distribution of financial products and services ("Bill 188"), which came into force in Quebec on October 1, 1999.

As of February 1, 2004, the Fonds d'indemnisation was replaced by the Autorité des marchés financiers, which now administers the various laws and regulations governing Québec's whole financial industry.

Although the FISF no longer exists as an organization, the Act that defines the compensation rules continues to apply, the only difference being that victims of fraud must now refer to the Autorité.

Here is how the mission of the Fonds d'indemnisation des services financiers was defined, which mission is now taken over by the Autorité:

The mission of the Fonds is to compensate financially the victims of fraud, fraudulent tactics or embezzlement taking place within the context of the distribution of financial products and services, in the eight sectors of activities covered by the Act, namely:

Insurance of persons
Group insurance of persons
Damage insurance
Claims adjustment
Financial planning
Group savings plan brokerage
Investment contract brokerage
Scholarship plan brokerage

To find out more about this fund, how to qualify for the compensation program or to fill out a claim form, call the information and referral centre at the Autorité des marchés financiers at (418) 525-0311 or 1 866 526-0311 or visit the Autorité des marchés financiers Web site.