MONTREAL, June 8 /CNW Telbec/ - The Québec Autorité des marchés financiers (AMF) and the Emirates Securities and Commodities Authority (ESCA), the agency responsible for ensuring efficient securities markets in the United Arab Emirates, today entered into a co-operation agreement.
The purpose of this agreement is to set up and implement a system for mutual assistance and exchange of information between the ESCA and the AMF in order to facilitate the performance of their respective securities-related functions, in particular:
- supervising the operations of a securities exchange, intermediary or
any other person regulated by the AMF or the ESCA, or the issuance and
trading of securities in their respective jurisdictions;
- investigating contraventions of laws and regulations relating to
- enforcing laws and regulations governing the securities or derivatives
- promoting and securing the fitness and propriety of persons registered
or licensed in their respective jurisdictions and overseeing their
The agreement was signed by His Excellency Sultan Bin Saeed Al Mansoori, Minister of Economy of the United Arab Emirates and Chairman of the Board of the ESCA, and Jean St-Gelais, AMF President and CEO, at the 35th Annual Conference of the International Organization of Securities Commissions (IOSCO), attended by representatives and experts of world finance this week in Montréal.
"The growth in international trading in the financial markets and the need to establish a relationship of co-operation and mutual assistance were the impetus for this agreement," noted Mr. St-Gelais. "This agreement creates a connection between securities markets in the United Arab Emirates and Québec, and will enhance the protection of investors and bolster enforcement measures between the two jurisdictions," added His Excellency Sultan Bin Saeed Al Mansoori.
The ESCA ensures the orderly development of a fair and efficient securities and commodities market in line with the economic and development objectives of the United Arab Emirates.
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
For further information: For further information: Media only: Sylvain Théberge, (514) 940-2176; Information Centre: Québec City: (418) 525-0337, Montréal: (514) 395-0337, Toll-free: 1-877-525-0337; www.lautorite.qc.ca