MONTRÉAL, June 25, 2020 /CNW Telbec/ - The Autorité des marchés financiers (AMF) today unveiled its 2020-2021 annual statement of priorities in the particular context of the COVID-19 pandemic and its repercussions on the Québec economy and the financial services industry.
The annual statement of priorities spotlights the priorities the AMF has established for the current fiscal year in order to effectively fulfill its mission and meet the needs of Québec financial consumers and industry members.
The AMF has identified five key areas of prioritization that will give the organization the necessary flexibility to adapt and seize opportunities as circumstances evolve: consumer protection; sustained monitoring of the economic and financial environment; leadership, collaboration and cooperation in national and international forums; governance and data science; and ability to adapt to the new environment.
"The COVID-19 pandemic is causing an unprecedented shock, and responding effectively and proactively to its actual and potential impacts on consumers and Québec's financial sector is critical. We will consequently prioritize our actions based on the above themes, while preparing for a new post-crisis normal and leveraging trends that are emerging in this time of profound change," said Louis Morisset, AMF President and Chief Executive Officer.
Launch of a new strategic plan postponed for a year
Amid the prevailing uncertainty and in light of the potential effects that the public health crisis will have on the financial sector, the AMF has decided to postpone the launch of its new strategic plan to April 1, 2021, so it can use the coming months to properly analyze the situation and confirm the merits of the planned strategic orientations and, if necessary, make any adjustments.
Therefore, in 2020-2021, the AMF will continue to implement its 2017-2020 Strategic Plan, the main orientations of which—demonstrate our leadership, added value and ability to innovate; strengthen our role as a local regulator close to its markets; and invest in our performance—continue to be entirely relevant for the purpose of guiding the organization in these tumultuous times.
The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.
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