Autorité des marchés financiers
|Autorité des marchés financiers|
|Headquarters||Québec & Montréal, Canada|
|Key People||Mario Albert, President and CEO|
The Autorité des marchés financiers (AMF) is the body mandated by the government of Québec to regulate the province's financial markets and provide assistance to consumers of financial products and services.
Established under An Act respecting the Autorité des marchés financiers on February 1, 2004, the AMF is unique by virtue of its integrated regulation of the Québec financial sector, notably in the areas of insurance, securities, deposit institutions (other than banks) and the distribution of financial products and services.
In addition to the powers and responsibilities conferred on it by its incorporating legislation, the AMF oversees the enforcement of laws in each of the areas it regulates. It can also draw on self-regulatory organizations (SROs), to which certain regulatory powers are delegated.
The AMF is financially self-sufficient through the fees and dues paid by the persons and firms governed by the legislation it is charged with enforcing.
The AMF is headed by a President and Chief Executive Officer appointed by the Quebec government. In applying its governance rules, the AMF is supported by an Internal Auditor as well as an Advisory Board.
The AMF is a member of standard setting associations, such as IOSCO.
Products and Services
The AMF regulates financial markets, including securities and derivatives markets. The Quebec Securities Act, Quebec Derivatives Act and the Act respecting the Autorité des marchés financiers are the primary pieces of legislation for financial markets oversight.
The Quebec Derivatives Act came into effect in February, 2009 and gives the AMF jurisdiction over all derivatives traded in Quebec, both on and off exchange. The AMF chairs the Canadian Securities Administrators Derivatives Committee.
- Mario Albert, President and CEO
- Anne Marie Beaudouin, Secretary General