International forums
The AMF is an active member of several international securities and insurance regulatory organizations, including:
International Association of Deposit Insurers (IADI)
The AMF is one of the founding members of the International Association of Deposit Insurers (IADI) This link will open in a new window. IADI was formed in May 2002 with the mission to promote international cooperation and share deposit insurance expertise. It currently represents 95 deposit insurers worldwide.
IADI, in collaboration with the Bank for International Settlements, established the Core Principles for Effective Deposit Insurance Systems. In February 2011, the Financial Stability Board (FSB) included the core principles in its list of key standards for sound financial systems. IADI then revised its core principles in November 2014.
As an active member of IADI, the AMF has chaired the Financial Cooperatives Technical Committee since June 2014. To date, this committee has published a research paper (2018) and a guidance paper (2021). In the coming years, it will also publish a number of policy notes on variety of topics affecting financial cooperatives. Since September 2023, the AMF has been a member of IADI's Executive Council, returning to a role it previously performed from November 2016 to November 2022. Since February 2020, the AMF has also chaired IADI’s North America Regional Committee, which published a research paper in 2021.
In addition to sitting on various working committees that focus on current financial and economic issues, the AMF participates in the IADI Annual General Meeting and in the Americas Deposit Insurance Forum, which brings together representatives of deposit insurers and resolution agencies from North and South America and the Caribbean.
When actively participating in the work of IADI, the AMF contributes its expertise and insight to several working groups and when drafting documents of interest to Québec. It also ensures that Québec’s deposit insurance and resolution system draws from best international practices.
International Association of Insurance Supervisors (IAIS)
The International Association of Insurance Supervisors (IAIS) This link will open in a new window was established in 1994. Its core objectives are to enhance the supervision of the insurance industry in order to maintain effective, fair, safe and stable insurance markets for the benefit and protection of policyholders, promote the development of well-regulated insurance markets and contribute to global financial stability.
The IAIS represents insurance regulators and supervisors from more than 200 jurisdictions, accounting for over 97% of premiums written around the world. Since 1999, the IAIS has welcomed more than 130 Observers (organizations of insurance professionals) to its membership.
The AMF is an active member of the IAIS, participating in several committees, such as the Governance Working Group, the Accounting and Auditing Working Group, the Capital, Solvency and Field-Testing Working Group and the Market Conduct Working Group, which the AMF chaired from 2010 to 2014.
In October 2011, the IAIS adopted (then extensively revised in October 2012) its Insurance Core Principles (ICPs), which the FSB has included on its list of Key Standards for Sound Financial Systems. The ICPs serve as a basis for the assessment of financial systems by the World Bank and the International Monetary Fund (IMF). The AMF played a leading role in revising these Core Principles, particularly those covering governance, commercial practices and intermediaries.
Moreover, the AMF has headed validation teams that assessed a number of applications by IAIS members seeking to become signatories to the Multilateral Memorandum of Understanding.
International Financial Consumer Protection Organisation (FinCoNet)
In spring 2017, the AMF became a member of FinCoNet This link will open in a new window, an international organization of supervisory authorities with responsibility for financial consumer protection. Mandated by the G20 and the Organisation for Economic Co-operation and Development, FinCoNet focuses on deposit institutions, working in particular to promote sound market conduct.
The AMF was confirmed as an active member of FinCoNet at its Annual General Meeting held in Tokyo in November 2017, and since then participates in the work of this organization.
International Organization of Securities Commissions (IOSCO)
Created in 1983, the International Organization of Securities Commissions (IOSCO) This link will open in a new window is the leading international policy forum for securities regulators. The AMF is a founding member. IOSCO members have resolved to work together to promote high standards of regulation in order to maintain fair, efficient and sound markets, to exchange information on their respective experiences and thereby assist with the development of national markets, to cooperate in setting standards and establishing effective oversight of international securities transactions and to provide mutual assistance to promote market integrity by a rigorous application of standards and effective securities law enforcement measures. IOSCO collaborates closely with the G20 and the FSB on international regulatory reforms.
IOSCO’s membership regulates more than 95% of the world's securities markets in 130 jurisdictions. The AMF is a member of IOSCO and actively participates in its Board and the majority of standing committees whose mandates cover key areas of interest, such as accounting standards, information disclosure, investigations and international cooperation and frameworks governing intermediaries, market structures and mutual funds. It also serves on various ad hoc committees created by the IOSCO Board, such as committees on over-the-counter derivatives, structured products, cross-border regulation and market conduct, to name but a few.
In 1998, IOSCO adopted its Objectives and Principles of Securities Regulation (the "IOSCO Principles"), which are recognized by the G20 and the FSB as securities regulation benchmarks. The IOSCO Principles, updated in 2010, are also used by the IMF and the World Bank as part of the Financial Sector Assessment Program (FSAP) for various countries.
The AMF is the Chair of IOSCO's Assessment Committee. The role of the Assessment Committee is to update the IOSCO Principles and encourage countries to adopt them.
The AMF is also a member of IOSCO’s Inter-American Regional Committee (IARC), made up of securities regulators from North, Central and South America and the Caribbean.
Finally, the AMF is vice-chair of IOSCO Committee 8, whose primary mandate is to conduct IOSCO's policy work on retail investor education and financial literacy. Its secondary mandate is to advise the IOSCO Board on emerging retail investor protection matters and conduct investor protection policy work as directed by the IOSCO Board.
Council of Securities Regulators of the Americas (COSRA)
The AMF is an active member of the Council of Securities Regulators of the Americas (COSRA), made up of securities regulators from North, Central and South America and the Caribbean. Established in 1992, COSRA now has more than 30 members, including the United States Securities and Exchange Commission, Mexico’s Comisión Nacional Bancaria y de Valores y de Valores and regulators from several countries in Central and South America. COSRA and IOSCO’s IARC share similar objectives and, as much as possible, hold their meetings jointly.
North American Securities Administrators Association (NASAA)
The AMF is also an active member of the North American Securities Administrators Association (NASAA) This link will open in a new window, whose membership consists of 67 U.S. state regulators, the 13 provincial and territorial securities administrators in Canada, Mexico’s Comisión Nacional Bancaria y de Valores, the Financial Institutions Commission of Puerto Rico, and the Guam Department of Revenue and Taxation. The AMF is a long-standing member of NASAA’s International Committee.
Institut francophone de la régulation financière (IFREFI)
The Institut Francophone de la Régulation Financière (IFREFI)This link will open in a new window was created on June 24, 2002 by financial market regulators from French-speaking countries. Its mission is to strengthen cooperation and exchanges between its members. IFREFI membership currently includes 28 countries.
The AMF has been an active member of the organization since its creation in 2002.
Over-the-Counter Derivatives Regulators’ Group (ODRG)
The AMF participates in the Over-the-Counter (OTC) Derivatives Regulators’ Group (ODRG), which is composed of executives and senior representatives from OTC derivatives regulators in Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Québec, Singapore, Switzerland and the United States. The ODRG seeks to identify and resolve cross-border issues associated with implementation of the G-20 OTC derivatives reform agenda.
Over-the-Counter Derivatives Regulators’ Forum (ODRF)
The AMF has participated in the Over-the-Counter Derivatives Regulators’ Forum (ODRF) This link will open in a new window since 2009 when it was formed by the principal derivatives regulators and banking authorities. The ODRF promotes cooperation and the sharing of experiences and information about OTC derivatives central counterparties and trade repositories.