News Release

CFIQ Makes Submission to Government of Quebec on Protection of Personal Information

August 31, 2020 (Montreal) – The Conseil des fonds d’investissement du Québec (CFIQ) today filed its submission on Bill 64, An Act to modernize legislative provisions as regards the protection of personal information.

“CFIQ commends the Quebec government for taking this important step to modernize its privacy legislation, which is a critical element of a fair and efficient economy,” said Johanne Blanchard, Chair of the CFIQ Board of Governors. “Advancements in technology have created a growing need for these changes, and we hope that they will enable our members to better protect their clients and their privacy.”

In its submission, CFIQ recommended taking a coordinated and harmonized approach with other jurisdictions in Canada to reduce the regulatory burden for firms that operate across the country.

The submission also made a number of recommendations with regard to the related proposed amendments to the Act Respecting the Protection of Personal Information in the Private Sector, including: requiring an assessment of privacy-related factors and express consent only when information is deemed to be sensitive; explicitly recognizing contractual clauses as an equivalent protection to the Act for communication of information outside Quebec; and urging the Commission d’accès à l’information and other privacy regulators in Canada to coordinate to ensure that any financial penalties related to a privacy incident are limited to one jurisdiction.

About CFIQ

CFIQ is the Quebec voice of The Investment Funds Institute of Canada (IFIC). IFIC brings together 150 organizations, including fund managers and distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317