Philippe Lebel is Executive Director, Legal Affairs at the Québec Autorité des marchés financiers (AMF). He joined the AMF when it was established in February 2004, and held the position of Assistant Director, Legal Affairs until 2005, when he assumed his current position. As Director, Legal Affairs, he primarily serves as in-house legal counsel to the various units at the AMF, including the Office of the President and CEO, and oversees a team of legal experts based at the AMF's Québec City and Montréal offices.
Mr. Lebel graduated from Laval University and was admitted to the Québec Bar in 1996. He subsequently focused his career on financial sector regulation. From 1996 to 1999, Mr. Lebel served as a lawyer with the Life and Health Insurance Board (Conseil des assurances de personnes), after having been employed at the Board in the course of his studies in 1994 and 1995. Beginning in 1999, he held various legal positions at the Québec Financial Services Bureau (Bureau des services financiers, one of the entities that was merged to create the AMF), where he actively took part in developing the regulatory framework, acted as litigation lawyer and, on two occasions, assumed interim responsibility for Legal Affairs.
With his active involvement in developing financial sector regulation, Mr. Lebel collaborated on several legislative and regulatory reforms. Starting in 1997, as part of a review of An Act respecting market intermediaries, he played an instrumental role in drafting An Act respecting the distribution of financial products and services (Bill 188) and, in 1999, the regulations arising therefrom. In 2002 and 2003, he also helped to implement An Act respecting the Autorité des marchés financiers (Bill 107), now the Act respecting the regulation of the financial sector (further to Bill 141).
Since 2005, Mr. Lebel has devoted much effort to the implementation of a highly harmonized legislative and regulatory framework in respect of securities as well as a Canada-wide passport system of securities regulation. This gave rise to numerous legislative instruments to amend the Québec Securities Act (Bill 29 for the Passport system and Bill 19 for the civil action regime in respect of secondary market transactions), as well as the reform of all Québec securities regulations for the purpose of achieving harmonization with the other jurisdictions of Canada. Notably, he participated in drafting and implementing Bill 64, An Act to amend the Act respecting the Autorité des marchés financiers and other legislative provisions, which is intended to bolster investor protection, and new legislation pertaining to securities transfer (Bill 47) and derivatives instruments (Bill 77). Most recently, he participated in the work that led to the adoption of Bill 141 intended to reform the legislation governing the Québec financial sector.