One year after its creation, the Chambre de l’assurance confirms that it has completed the transitional measures set out in the Act to amend various provisions mainly with respect to the financial sector (Bill 16). Coming into force on July 4, 2025, Bill 16 established the steps and timelines required for the merger of the Chambre de l’assurance de dommages and the Chambre de la sécurité financière. Today, the new Chambre highlights the final milestones achieved.

New Independent Review Committee

Bill 16 ended the possibility of requesting an opinion from the Autorité des marchés financiers’ (the “Autorité”) review committee regarding a syndic’s decision not to file a complaint before the discipline committee. Pursuant to the recognition decision, the Chambre has established a review committee that operates independently from its other bodies. The Review Committee Policy which came into force on July 4, 2026, sets out, among other things, the committee’s mandate, composition, operating rules and responsibilities. A call for applications (in French only) is currently underway to recruit committee members in accordance with the policy.

To learn more, consult the Review Committee Policy (in French only).

Regulatory Transfer

The transfer of oversight responsibility for mutual fund representatives and scholarship plan representatives to the Canadian Investment Regulatory Organization (CIRO) and the Autorité, respectively, was finalized on July 4, in accordance with the requirements of the Act.

A Successful Transition

“I am proud of what has been accomplished over the past year,” said Mario Albert, Chair of the Board of Directors of the Chambre de l’assurance. “The mandate entrusted to us under Bill 16 was clear, and we successfully completed it with rigour, collaboration and agility. I would like to sincerely thank the directors, executive management and staff members, whose dedication was instrumental in completing this work.”

“The regulatory transition has been a success,” added Chantal Lamoureux, President and Chief Executive Officer of the Chambre de l’assurance. “We fulfilled all obligations set out in Bill 16 while maintaining our oversight and public protection activities, including investigations and member support initiatives. I join Mr. Albert in thanking our directors, employees and partners, all of whom contributed to this collective achievement.”

Reminder of Regulatory Obligations

As part of the requirements stemming from Bill 16, a transition committee was established to ensure the smooth and structured transfer of governance from its predecessors to the Chambre de l’assurance. Its mandate included proposing a special procedure for the election of members of the Board of Directors, providing comments on the Autorité’s decision of recognition and proposing the Chambre’s by-laws.

Throughout the transition process, the Chambre maintained regular communications through press releases, annual meetings, newsletters and its activity report (in French only).

At the same time, efforts to harmonize the rules, policies and directives inherited from the merging organizations are ongoing and will continue over the coming months. The Chambre remains committed to pursuing this work with the same objective: strengthening public protection.