Montréal – The Autorité des marchés financiers (AMF) announces that changes have been made to the Fund for Investor Education and the Promotion of Good Governance, which is now known as the Education and Good Governance Fund. "The changes help consolidate the mission and actions taken by the AMF with respect to education and the promotion of good governance," noted Anne-Marie Poitras, Superintendent, AMF Client Services and Compensation.
The changes are further to the recent adoption of the Act to amend the Act respecting the Autorité des marchés financiers and other legislative provisions. In addition to its new name, the new Act ensures the Fund’s long-term sustainability through the authorization of new funds derived from fines, penalties and administrative sanctions collected by the AMF under the laws for which it is responsible. The new Act also broadens the scope of the Fund, hence enabling it to support projects in all areas related to the AMF’s mission.
"The Fund is a special tool for education and knowledge,” stated Ms. Poitras. “By supporting various initiatives, from university research to community projects for better awareness and greater financial autonomy among youth, the Fund helps the AMF to significantly contribute to and play a major role in the enhancement of financial knowledge in Québec,” added Ms. Poitras.
Each year, the AMF calls for projects in the following areas: investor protection, investor education, enhancement of knowledge and the promotion of good governance. Projects selected by the Fund's Assessment Committee are awarded financial support. This year, the Committee will review all project applications received no later than September 30, 2008.
Since its establishment, the Fund has contributed nearly $5 million to 46 different projects. A complete list of these projects, including descriptions, is available on the AMF's website, under the section Education and Good Governance Fund.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Frédéric Alberro (514) 940-2176
Québec City: 418-525-0337