October 30, 2019 Organization

Montréal, October 30, 2019 – The Autorité des marchés financiers (the “AMF”) today published its Enforcement Report relating to the regulation of the Québec financial sector for fiscal year 2018-2019.

This year’s report, which is presented in a new, more visually dynamic and easy-to-read format, provides an overview of the past year’s activities and results. It bears witness to the efforts made, particularly in developing technological tools, to achieve efficiencies and roll out an innovative and credible preventive and deterrent enforcement program.

“Our report reaffirms the importance of our teams’ efforts in enforcing the laws relating to the regulation of Québec’s financial sector in order to protect financial consumers at a time when the financial sector is changing in fundamental ways and presenting new challenges,” said Louis Morisset, AMF President and CEO.

In addition to providing a statistical portrait of the AMF’s enforcement activities of the past year, the report covers, among other things, targeted campaigns designed to protect the public against fraud, particularly in the crypto-asset sector. It also outlines measures taken by the AMF to more effectively detect non-compliance and presents some national and international initiatives that the AMF is involved in.

“Although the fast pace of fintech development is providing consumers with new options, it is also spawning new ways to engage in unethical, abusive and fraudulent practices that cross borders,” said Jean-François Fortin, Executive Director, AMF Enforcement. “That is why we are focused on developing ever-more effective and efficient technological tools and collaborating with our regulatory partners so we can share our expertise and draw on best practices.”

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

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