AMF'S 2008-2009 annual report tabled

Organization

Montréal – The 2008-2009 Annual Report of the Autorité des marchés financiers (AMF) was tabled in the Québec National Assembly on September 29, 2009. The Report includes the AMF's financial statements and covers its primary activities for the fiscal year from April 1, 2008 to March 31, 2009, particularly with respect to the administration of the following laws: the Deposit Insurance Act, the Securities Act, the Act respecting the distribution of financial products and services and the Derivatives Act.

The past year was marked by a financial crisis that sparked an economic slowdown around the world "The conclusive results achieved by the AMF since its establishment confirm its ability to fully assume its supervisory mandate in such a difficult environment," said AMF President and CEO Jean St-Gelais. "This was the fifth anniversary of the AMF, five years of a commitment to information, regulation and protection," added Mr. St-Gelais.

Highlights of the AMF's fifth year of operations include:

  • The coming into force of the Derivatives Act;
  • The expansion of staff dedicated to inspections and investigations for a two-fold increase from 2004 to 2008;
  • A significant increase in the number of investigations and a noteworthy decline in the time required for these activities;
  • The leadership role played by the AMF with respect to the implementation of the securities passport system that served as a concrete and effective response to the federal government's plans to interfere in an area of provincial jurisdiction;
  • The creation of mobile teams that interact directly with consumer groups.

The 2008-2009 Annual Report (pdf - 2 MB)This link will open in a new windowUpdated on September 10, 2009 is available on the AMF website.

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

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