May 5, 2004 Organization

Québec – In the presence of the Minister of Finance of Québec, Yves Séguin, the Minister of Labour and Minister responsible for the national capital region, Michel Després, and several other notable guests, the Agence nationale d’encadrement du secteur financier, also known as the Autorité des marchés financiers or “AMF”, inaugurated its new head office today.

For Minister Després, “the establishment of the head office of the AMF in Québec City represents a concrete step intended to show the key role of our national capital in the development of the economy. Note the many members of Quebec’s financial community here today. From Québec City, the AMF also monitors the solvency of financial institutions and ensures the inspection and oversight of close to 40,000 people who distribute financial products and services”.

Located in the new Cominar tower at Place de la Cité, the new head office brings together under the same roof all AMF employees who work in Québec City, that is, close to half the staff of this organization. “Having all the employees in one place will promote the sharing of the resources, skills and expertise of all those who used to work apart. As the only regulatory organization in Québec, we are the spearhead of a new financial culture. We are responsible for not only restoring public confidence, but also for setting the tone in terms of ethics and good governance in the financial sector”, said Jean St-Gelais, Chief Executive Officer of the organization.

The Minister of Finance used the occasion to reiterate the three goals guiding the AMF: better protecting consumers, simplifying matters for intermediaries in the financial products and services industry and better monitoring market convergence and evolution. “The AMF will reach these goals, as it has remarkable and specialized oversight and regulatory abilities. The financial community should therefore welcome this new organization with enthusiasm, in a spirit of frank and open cooperation”, Minister Séguin added.

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Information:

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