June 21, 2011 Securities

Montréal - The Autorité des marchés financiers (the "AMF") of Québec and the Autorité des marchés financiers of France today reached an agreement to facilitate the mobility of securities professionals between the two jurisdictions. An agreement was also reached between the AMF and the Organisme pour le registre des intermédiaires en assurances to facilitate the mobility of insurance professionals between Québec and France.

This mutual recognition of professional qualifications will benefit individuals from Québec and France who wish to pursue their securities or insurance careers in either jurisdiction. As well, it will help Québec meet certain needs for qualified labour.

These arrangements are further to an undertaking between Québec and France signed on June 8, 2010 in Montréal to recognize the qualifications of securities professionals and to an undertaking signed in France on November 23, 2010 for the mutual recognition of the qualifications of insurance professionals.

These agreements build on the Québec-France Understanding on the Mutual Recognition of Professional Qualifications that was signed on October 17, 2008 by French President Nicolas Sarkozy and Québec Premier Jean Charest.

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

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