REGULATION

AMF Québec Issues New AI Disclosure Rules for Fintech

The Autorité des marchés financiers has updated its expectations around artificial intelligence in financial tools used by Quebec residents, focusing on transparency rather than restricting innovation.

15 October 2025 · 8 min read

The Autorité des marchés financiers (AMF) published revised guidance in mid-2025 that requires clearer explanations whenever AI systems influence personal finance recommendations or risk assessments. This step aligns with broader Canadian Securities Administrators efforts and responds to the rapid adoption of algorithmic tools by both banks and newer platforms serving Quebec users.

Background to the Updated Guidance

Quebec’s financial regulator has observed a steady rise in AI-assisted applications since 2022, particularly in budgeting, credit scoring, and portfolio analysis tools. The new expectations build on a 2023 CSA staff notice that flagged insufficient disclosure around model inputs and decision logic. AMF staff reviewed approximately 40 fintech submissions during the consultation period, highlighting gaps in how firms describe automated processes to end users.

Core Requirements for Platforms

Under the revised framework, any firm offering AI-driven features must provide concise, plain-language summaries of the data categories used and the main factors driving outputs. Material changes to models now trigger a 30-day advance notice to users. These obligations apply to both domestic operators and those targeting Quebec clients, creating a consistent baseline across the province’s market.

The emphasis is on enabling individuals to understand why a tool produced a particular suggestion, not on prescribing the underlying technology itself.

Practical Effects for Quebec Residents

Readers gain a clearer view of how automated systems operate within regulated environments. This reduces uncertainty when comparing multiple apps and helps distinguish between marketing claims and documented model behaviour. Over time, consistent disclosure may also support more informed discussions with financial advisors who incorporate these tools into their own workflows.

Key takeaways

• AMF guidance now requires explicit descriptions of data inputs and primary decision factors in AI finance tools.
• Users receive advance notice of material model changes, improving predictability of app behaviour.
• The rules complement existing CSA positions without introducing new licensing barriers for compliant developers.
• Individuals can more readily assess whether an application’s automation aligns with their own risk tolerance and information needs.

This article is informational only and does not constitute financial advice. Consult a qualified specialist before acting.

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