Mortgage Brokers in Quebec: AMF Oversight
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In brief — Since May 1, 2020, mortgage brokerage in Quebec is no longer overseen by the OACIQ but by the Autorité des marchés financiers (AMF), under the Act respecting the distribution of financial products and services (LDPSF). A mortgage broker must be registered with the AMF and hold a licence, explain in writing the nature and extent of their services, and disclose how they are compensated.
This transfer of oversight changed the mortgage broker's professional framework. Here is what a compliant client file needs.
The 2020 change
Previously, mortgage brokerage fell under the OACIQ (Real Estate Brokerage Act). Since May 1, 2020, it is a discipline governed by the LDPSF and supervised by the AMF — the same body that oversees insurance representatives, financial planners and financial security advisors.
Registration and licence
Every mortgage broker must be registered with the AMF and hold a licence to practise. The AMF sets training and competence criteria to obtain and keep it, and supervises the conduct of its registrants.
The client file and conduct obligations
In the client relationship, the broker must notably:
- explain the nature and extent of the services offered ;
- disclose in writing how they are compensated ;
- build a client file documenting the situation and needs, supporting their recommendation.
A structured, complete file is not just a requirement: it is what makes the recommendation defensible and the process efficient.
Protecting information (Law 25)
The mortgage file concentrates sensitive financial data. Its handling also falls under Law 25 — see Law 25 and client data for brokers, and our security and privacy pages.
Putting numbers on the client's project
For an investor client, the decision turns on after-tax numbers. DeedWorth computes the return of an income property — concrete support for the financing conversation. Analyze a property with DeedWorth →
FAQ
Who regulates mortgage brokerage in Quebec? Since May 1, 2020, the Autorité des marchés financiers (AMF), under the Act respecting the distribution of financial products and services (LDPSF). Before that, it was the OACIQ.
Do you need a licence to be a mortgage broker? Yes. The broker must be registered with the AMF and hold a licence, meeting training and competence criteria.
What are the obligations toward the client? Explain the nature and extent of services, disclose compensation in writing, and document the client file to support the recommendation.
Is mortgage brokerage still under the OACIQ? No. Since May 2020, the AMF oversees it.
Read more
- Real estate broker records and registers (OACIQ)
- Law 25 and client data for brokers
- Borrowing capacity and the B-20 stress test
For information only, not legal or financial advice. Rules change; confirm your obligations with the AMF or a professional. Last verified: July 2026.