Me Louis Morisset has served as President and CEO of the Autorité des marchés financiers (AMF) since July 2, 2013.
The AMF is the body mandated by the Government of Québec to enforce the laws regulating the financial sector, including in the areas of insurance, securities, derivatives, deposit institutions (other than federal chartered banks) and the distribution of financial products and services.
As President and CEO, Me Morisset is vested with all the powers relating to the application of the laws governing Québec financial sector participants. He oversees the development of a regulatory framework intended to ensure the protection of savers and investors, and the sound growth of the financial sector. He is responsible for the administration and direction of the AMF within the scope of its by-laws and policies. Me Morisset participates actively in various national and international forums related to the AMF's functions and areas of activity.
At the national level, Me Morisset has, since April 1, 2015, held the position of Chair of the Canadian Securities Administrators (CSA) This link will open in a new window, the council of the securities regulators of Canada's provinces and territories. In this capacity, he actively contributes to the improvement, co-ordination and harmonization of the regulation of the Canadian capital markets. Over the past years, he has played an important role in several public policy and regulatory matters at the CSA, notably as a key contributor to the reflection leading to the fundamental changes made in May 2016 to the take-over bid regime.
At the international level, Me Morisset represents the AMF, in particular on the board of the International Organization of Securities Commissions (IOSCO) This link will open in a new window, and has actively collaborated on IOSCO initiatives for a number of years. From February 2014 to April 2016, he co-ordinated the initial work conducted by IOSCO on cyber-resilience that led to the publication of a report titled Cyber Security in Securities Markets – An International Perspective in April 2016. Moreover, in 2010 and 2011, he played an active role in IOSCO's initial work examining how securities regulators can mitigate systemic risk. He was also elected to serve two consecutive terms between 2007 and 2011 as chair of the Monitoring Group mandated to supervise the implementation and application of the IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information.
To foster exchanges with stakeholders regarding the AMF's regulatory activities, Me Morisset regularly takes part in forums on broad public policy issues related to the financial sector. He is frequently invited as speaker to share his views on market regulatory matters.
From May 2006 until his appointment as President and CEO, Me Morisset held the position of AMF Superintendent, Securities Markets. In this position, he was in particular responsible for enforcing the laws and numerous regulations pertaining to public offerings by companies and investment funds, the continuous disclosures that these entities are required to file as well as take-over bids and issuer bids.
He was also in charge of supervising the Québec activities of market structures such as exchanges and clearing houses, including those of TMX Group Limited and, in particular, those of the Montréal Exchange and the Canadian Derivatives Clearing Corporation (CDCC), as well as the activities of the Investment Industry Regulatory Organization of Canada (IIROC).
Me Morisset is a member of the board of directors of the Institute for governance of private and public organizations (IGOPP), Finance Montréal – la grappe financière du Québec and the Collège des administrateurs de sociétés (CAS). From May 2007 to March 2014, he was also a member of the Accounting Standards Oversight Council (AcSOC).
Me Morisset graduated in law from the University of Montréal in 1995 and was called to the Bar of the Province of Québec the following year. Prior to joining the AMF, he was a partner at the law firm Stikeman Elliott LLP, where he acquired extensive experience over nearly ten years in securities law, corporate finance, and public and private mergers and acquisitions.