Organization Decisions and Freeze and cease trade orders
Montréal - The Autorité des marchés financiers (the “AMF”) acknowledges the decision handed down today by the Supreme Court of Canada, which has just validated the constitutionality of the system proposed by the federal government and certain provinces involving the establishment of a new capital markets regulatory body. The AMF reiterates the Québec Minister of Finance in his news release issued earlier today in which he reaffirms, in particular, that the proposed system is not in the interests of Québec and Québec investors.
“The AMF will continue to fully assume its role as an integrated regulator and focus its efforts on oversight of Québec’s markets and the protection of Québec consumers,” said Louis Morisset, AMF President and CEO.
“Although a new regulatory body may eventually be created that does not involve all the provinces and territories, the AMF stands ready to do what it is currently doing as a member of the Canadian Securities Administrators—work with its peer regulators across the country to ensure the stability and efficiency of Canada’s markets and maintain a level of cooperation critical to the development of harmonized regulation that is at least as effective as the existing structure,” he concluded.
The AMF will closely follow developments in this matter and continue its work with the same determination and concern for quality that have always made it a strong regulator that has influence with its provincial and territorial peers.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial industry.
— 30 —
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337