The Autorité des marchés financiers reports that it has been asked to support the actions of the Curateur public du Québec in connection with its mandate to recover unclaimed property, specifically mutual fund securities.

By publishing this notice, the Autorité would like to draw the attention of securities registrants (dealers, advisors, firms) and mutual funds who, in the normal course of business, hold accounts for clients who have made no claim, engaged in no transaction or given no instruction for over three years and of whom they have lost track.

The AMF says that the registrant responsible for opening the client account must inform the holder of the client’s property, if he does not hold it himself, as well as the Curateur public, that he has lost track of his client for over three years; and, the holder of the client’s property is then responsible for transferring the unclaimed property to the Curateur public.

As part of its general mandate, the Autorité has an interest in ensuring that all registrants under its jurisdiction comply with all the laws of Quebec.