Established within the AMF under An Act respecting the Autorité des marchés financiers, the primary mandate of the Advisory Board is to advise the AMF and the Minister of Finance from an overall perspective.
Its main functions are:
- Advising the AMF on the compatibility of its actions with its mission.
- Advising the AMF on its corporate governance, in particular as regards its budget estimates, staffing plan and activity plan.
- Making recommendations to the AMF President and CEO concerning the appointment of AMF executive directors.
- Reporting to the Minister on any matter submitted to it by the latter and making recommendations concerning the administration of the AMF and the efficient use of its resources.
No later than July 31 of each year, the Advisory Board must submit a report to the Minister on its activities for the previous fiscal year. This report is appended to the AMF activity report.
The Advisory Board is composed of a maximum of seven members who are appointed by the Minister of Finance. Members are chosen for their knowledge of the financial sector as well as their expertise in the area of administrative management.
Advisory Board members are appointed for a term of not more than three years, which may be renewed twice only. In addition, the Board has adopted a Code of ethics and professional conduct (Available in French only) in respect of its members.