Montréal – The President and CEO of the Autorité des marchés financiers (AMF), Jean St-Gelais, is pleased to announce that five projects have been selected for financial support from the Fund for Investor Education and the Promotion of Good Governance.
As at November 30, 2004, a total of 14 projects had been submitted to the AMF. Following an assessment by the Fund’s Management Committee and independent evaluators, the following five projects were selected:
- Research project on the performance of boards of directors as well as on director training and information, carried out by Marie-Josée Roy, associate professor at Laval University (grant: $24,336);
- Research project on the transparency of communications related to organizational performance and its impact on the quality of financial statements, carried out by Denis Cormier, professor at the University of Québec at Montréal (grant: $50,000);
- Study on conditions surrounding the survival of corporations that conduct IPOs, carried out by Cécile Carpentier, associate professor at Laval University (grant: $79,621);
- Research project on corporate governance reform in respect of public companies, carried out by Guy Lefebvre, assistant dean for development and planning, and director of the Centre de droit des affaires et du commerce international (CDACI) at the University of Montréal (grant: $80,000);
- Creation of the Collège des administrateurs de sociétés, in partnership with the Caisse de dépôt et placement du Québec, the Québec government’s Conseil exécutif and Laval University’s Faculty of Administrative Science (grant: $600,000 over three years).
As part of the Fund’s second call for projects, individuals or organizations seeking financial support can submit projects until April 30, 2005. The Fund guidelines and the required application form are available on the AMF website under About Us/Fund for Investor Education and the Promotion of Good Governance.
With $14.6 million at its disposal, the Fund consists of a reserve made up of various fees collected by the AMF and administrative penalties imposed on parties who fail to comply with a requirement prescribed by law or regulation.
By promoting proper management practices and encouraging the highest quality of governance standards, the Fund serves as a unique venue for the development, vitality and expansion of Québec’s financial sector. It provides financial support in four areas:
- investor protection;
- promotion of good governance;
- investor education;
- improving knowledge of the financial sector.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
— 30 —
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then dial 2 for consumers