Quebec’s Autorité des marchés financiers recently hosted a two-day conference devoted to the task of investigating fraud in the derivatives markets.

Staff from the U.S. Commodity Futures Trading Commission and the U.S. National Futures Association conducted specialized training for 120 inspectors, investigators and lawyers from the AMF and some of the other securities and derivatives regulators in Canada at a conference it hosted on February 4 and 5, to review the latest techniques for investigating and detecting fraud in derivatives markets, particularly in currency markets.

The purpose of the two-day event was “to enhance the effectiveness, consistency and timeliness of actions taken by the AMF in fraud-related matters” it said, noting that active traders are often the victims of frauds carried out in the forex markets, and they can incur substantial financial losses.

“[The] event will bolster the reputation of the AMF’s Centre of Excellence for Derivatives and the team led by Derek West. It contributes to the Centre’s mission of developing and implementing a modern regulatory framework for the Québec derivatives market that takes into account the reality of Canadian and North American markets,” noted Louis Morisset, AMF superintendent, securities markets.