The Autorité des marchés financiers (AMF) on Wednesday called for candidates to serve on a technological innovation advisory committee (TIAC).
TIAC is intended to provide the regulator with insight into the state of technology-driven innovation in the financial industry. The committee will consist of 15 industry representatives with technology backgrounds, along with regulators.
The work of the new committee will be closely related to an internal fintech working group that was established earlier this year by the AMF to analyze technological innovations in the financial sector and to anticipate any related regulatory and consumer protection issues.
“The creation of this committee further demonstrates the AMF’s resolve to serve as a partner and a go-to point of contact and reference for all industry stakeholders interested in financial sector technological innovation in Québec,” says Louis Morisset, AMF president and CEO, in a news release.
“The committee’s work will be especially useful for maintaining an open and constructive dialogue between stakeholders and the AMF while helping to ensure a solid balance between consumer protection and market efficiency,” he adds.
The committee will meet four to six times per year, and members will be appointed for a two-year term. The deadline for submitting an application is Oct. 4.
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