MONTRÉAL, March 10, 2016 /CNW Telbec/ - At the Executive Council meeting of the International Association of Deposit Insurers (IADI) held in Basel, Switzerland from March 7 - 9, 2016, the Autorité des marchés financiers ("AMF") was selected to host the 16th IADI Annual General Meeting, scheduled to take place in Québec City in October 2017.
"We are proud to welcome IADI members as well as representatives of peer regulators and international bodies, such as the International Monetary Fund and the World Bank, to Québec City for this important event," said Louis Morisset. "Our hosting role is testimony to our key influence and leadership within this regulators' forum," he concluded.
"The AGM is another opportunity for us to share the expertise we have developed thanks to the presence in Québec of one of the world's largest financial cooperative groups," added Patrick Déry, AMF Superintendent, Solvency.
A focus of the meeting will in fact be the issues and challenges of adapting crisis management and resolution tools, developed internationally for traditional banks, to financial cooperatives. This will enable the AMF to highlight its expertise in this area.
A subcommittee chaired by the AMF will release an initial research report at the meeting, offering new insights into the issues facing financial cooperatives. The subcommittee is currently examining cooperatives' powers, tools and best practices, drawing on, in particular, a survey and case studies submitted by members and non-members. It will pursue its research in order to set up a standing forum to scrutinize all issues relating to financial cooperatives.
This Annual General Meeting will coincide with the 50th anniversary of the creation of the Québec and federal deposit insurance programs. A joint activity will take place during the event in partnership with the Canada Deposit Insurance Corporation.
IADI is a non-profit organization formed in 2002 and based in Basel, Switzerland. For more information, visit the IADI website at http://www.iadi.org.
The Autorité des marchés financiers ("AMF") is the regulatory and oversight body for Québec's financial sector.
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
SOURCE Autorité des marchés financiers
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