November 23, 2010 Insurance

Montréal – Mario Albert, Superintendent, Client Services, Compensation and Distribution at the Québec Autorité des marchés financiers and Grégoire Dupont, Secretary General of the Organisme pour le registre des intermédiaires en assurance (France), today signed an agreement to facilitate the mobility of insurance professionals between France and Québec.

Under the agreement, the competent authorities in France and Québec will enter into arrangements to mutually recognize the qualifications of individuals tasked with regulated functions in insurance in France and Québec. These arrangements are intended to facilitate the mobility of individuals between the two jurisdictions and to respond to specific needs for qualified personnel. The process will begin with an in-depth review of the conditions required in France and Québec for the functions concerned.

The agreement follows the historic signing on October 17, 2008 by French President Nicolas Sarkozy and Québec Premier Jean Charest of the Québec-France Understanding on the Mutual Recognition of Professional Qualifications.

Further step towards ensuring the mobility of securities professionals

The AMF also today concluded an agreement in principle with the Autorité des marchés financiers (France) concerning the mobility of securities industry individuals. This agreement builds on an initial agreement signed on June 8, 2010. It demonstrates the progress made by the parties and reiterates their resolve to pursue discussions leading to an initial mutual recognition agreement.

The Organisme pour le registre des intermédiaires en assurance (ORIAS) is entrusted with listing individuals authorized to act as intermediaries in insurance or reinsurance in France.

The Autorité des marchés financiers (France) is an independent public body that regulates and oversees the financial markets in France.

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

— 30 —

Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337