Board of directors

The AMF is administered by a board of directors composed of 11 to 13Under the Act to amend various legislative provisions mainly with respect to the financial sector, assented on December 8, 2021, the board of directors of the AMF may, until December 8, 2023, be composed of 7 to 13 members. members appointed by the Government, including the chair of the board and the President and Chief Executive Officer. All the members, excluding the President and Chief Executive Officer, are independent. They are appointed taking into consideration the expertise and experience profiles approved by the board.

The AMF’s governance is prescribed under the Act respecting the regulation of the financial sector This link will open in a new window and supplemented by the applicable provisions of the Act respecting the governance of state-owned enterprises.

Main functions

The board of directors determines the AMF’s strategic orientations and sees to their implementation.

The functions of the board of directors include:

adopting the strategic plan
approving the governance rules of the AMF
approving the AMF’s investment policies, multi-year budget estimates, financial statements and annual management report
approving the code of ethics applicable to the members of the AMF’s board of directors and the code applicable to its staff members
appointing, on the recommendation of the President and Chief Executive Officer, the superintendents and other officers of the AMF, other than the President and Chief Executive Officer, that are under the President and Chief Executive Officer’s immediate authority
appointing, after consultation with the President and Chief Executive Officer, the members of the Conseil consultatif des consommateurs de produits et utilisateurs de services financiers (Financial Products and Services Consumer Advisory Council).

The board also reports to the Minister of Finance on any matter submitted to it by the latter and makes recommendations to the Minister concerning the efficient use of AMF resources.

Members of the board of directors

The members of the board of directors, other than the President and Chief Executive Officer, are appointed for terms of office that may not exceed four years. The chair of the board is appointed for a term of office that may not exceed five years. Board members, except for the President and CEO, may be reappointed twice to serve in that capacity only for a consecutive or non-consecutive term.