MONTREAL, April 19, 2012 /CNW Telbec/ - Consumer support, collaboration with the industry and partners, deterring financial crimes and innovative oversight practices are some of the highlights of the 2012-2017 Strategic Plan released today by the Autorité des marchés financiers (the "AMF").
"The recent financial crises have underscored the need for more comprehensive oversight of markets and institutions. It is therefore appropriate to continue with the full deployment of our integrated regulator model to ensure efficiency in the markets and better protect the public," said AMF President and CEO Mario Albert.
Fragile economic conditions
Formulated in the context of uncertain financial markets and their growing complexity, this plan is designed to strengthen the regulatory framework in an effort to meet consumers' high expectations. To achieve this goal, the AMF will remain in the forefront of trends and reforms by providing integrated strategic monitoring and analysis of changing markets and regulatory developments and by demonstrating leadership at national and international forums. On the heels of the opinion of the Supreme Court of Canada confirming provincial jurisdiction in securities matters, the AMF will continue to further efforts in co-operation with provincial regulators to help maintain an effective framework across the country.
In order to achieve a balanced framework, the 2012-2017 Strategic Plan calls for constructive, quality exchanges with market participants, notably with respect to regulatory amendments and evaluations of various assistance programs, such as complaint examinations and compensation. It also calls for the launch of an index to measure the knowledge and behaviour of consumers of financial products and services. This initiative will ultimately result in more targeted interventions so that Quebeckers can be more knowledgeable and more vigilant financial consumers. Finally, the AMF will review its client services so that all stakeholders can take fuller advantage of the integrated regulator model.
"Our vision revolves around three main elements: to become the top-of-mind resource for consumers, to present a fully integrated approach to financial sector regulation and to be an influential and high-performing organization. This is an ambitious challenge, but one I am convinced we will be able to meet," concluded Mr. Albert.
The 2012-2017 Strategic Plan is published on the AMF website.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
For further information:
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337