Quebec has long opposed efforts to create a national regulator<\/a>.<\/p>\n\u201cWe acknowledge the Supreme Court of Canada ruling, but intend to retain our autonomy and keep our expertise in Quebec. The finance sector is highly strategic and we will remain autonomous,\u201d said Eric Girard, Quebec finance minister, in a statement.<\/p>\n
\u201cQuebec will continue to be responsible for regulating securities on the Quebec market. The Autorit\u00e9 des march\u00e9s financiers (AMF) will continue to be the integrated regulator responsible for overseeing all stakeholders in the Quebec financial sector,\u201d he added.<\/p>\n
Added Girard: \u201cWe reaffirm our resolve with regard to defending both the interests of Quebecers and Quebec\u2019s jurisdiction from any eventual encroachment. We will remain vigilant about meeting our responsibilities. We also call for guaranties from the federal government when the federal regulator is implemented. The court did state that the federal law creating the pan-Canadian commission must not encroach on provincial jurisdiction.\u201d<\/p>\n
In a statement, the AMF acknowledged the SCC decision and Girard\u2019s comments.<\/p>\n
Stated Louis Morisset, president and CEO of the AMF and chairman of the Canadian Securities Administrators (CSA) : \u201cAlthough a new regulatory body may eventually be created that does not involve all the provinces and territories, the AMF stands ready to do what it is currently doing as a member of the CSA \u2014 work with its peer regulators across the country to ensure the stability and efficiency of Canada\u2019s markets and maintain a level of co-operation critical to the development of harmonized regulation that is at least as effective as the existing structure.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Autorit\u00e9 des march\u00e9s financiers will continue overseeing all stakeholders in the Quebec financial sector<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2324,2312],"tags":[2472,3001],"yst_prominent_words":[5852,34129,34128,34067,25766,25316,25204,10359,8351,7226,6864,6729,6029,1804,5849,5844,5841,5339,5189,2116],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/358304"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=358304"}],"version-history":[{"count":1,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/358304\/revisions"}],"predecessor-version":[{"id":358305,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/358304\/revisions\/358305"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=358304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=358304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=358304"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=358304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}