Montréal – The Autorité des marchés financiers (AMF) has issued today a guide intended for Québec financial institutions to help prepare for a possible influenza pandemic.
This AMF document is in keeping with other similar efforts such as the guidelines issued by the International Monetary Fund and the Joint Forum of the Basel Committee, which urge all financial sector participants to prepare for a possible influenza pandemic. The document, which is intended for Québec financial institutions, is based on the assumption that an influenza pandemic might occur. The comments contained in the document should not be considered alarmist, as it is up to scientists and qualified government authorities to decide on the scope, duration and risk of an influenza pandemic.
The goal of this document is to raise awareness among Québec financial institutions of the risk of a possible influenza pandemic, the impacts it could have and the importance of preparing for such an event. The document is designed as a tool for Québec financial institutions for the adoption of effective business continuity plans that are adapted to an influenza pandemic. The AMF has adopted an innovative and structural approach designed to foster exchanges on best management practices in respect of such a risk. This AMF initiative therefore goes well beyond raising awareness. It sets out orientations for action by Québec financial institutions, while ensuring the flexibility they need for adaptations based on specific circumstances.
Mindful of the challenges presented in managing an influenza pandemic risk, the AMF is asking the financial institutions under its supervision to:
- draw on this document to prepare effective business continuity plans that are adapted to an influenza pandemic;
- forward their own comments on the impact of a possible influenza pandemic based on their own experience for the purpose of enhancing this analysis;
- provide the AMF with the contact information for resource persons in charge of preparations and intervention in connection with a possible influenza pandemic.
The Influenza Pandemic Guide for Québec Financial Institutions 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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Frédéric Alberro (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers