Montréal – The Autorité des marchés financiers (the “AMF”) today published its Enforcement Report relating to the regulation of the Québec financial sector for fiscal year 2019-2020.
The report summarizes the AMF’s enforcement activities and results for the past year.
“As the report shows, the AMF is continuing to take tangible, positive and transparent action to strengthen the confidence of financial consumers and help markets operate fairly and efficiently,” said Louis Morisset, AMF President and CEO.
“The fiscal year just ended was significant for us and brings home the importance of being vigilant against fraud and market abuse,” added Jean-François Fortin, Executive Director of Enforcement. “Amid the current pandemic, markets are particularly volatile, increasing the need for vigilance at all levels and giving our inspection, supervision, investigation and prosecution work added importance.”
In addition to providing a statistical picture of the enforcement activities carried out by the AMF during the 2019-2020 fiscal year and highlighting some important decisions, the report describes how tools and work methods were developed or optimized to not only detect but anticipate new schemes.
The AMF displayed great agility, particularly in detecting emerging risks and using the various tools at its disposal. In 2020-2021, the AMF will step up its enforcement efforts with respect to emerging risks, especially potential fraud resulting from a financial or economic crisis.
The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.
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