About the AMF
The Autorite des marches financier (AMF) is the body mandated by the government of Quebec. It was set to regulate the province's financial markets and provide any assistance possible to the consumers of financial products and services. In other words, it is an independent public body that is responsible for safeguarding investments in financial markets and is mandated by the government of Quebec to regulate the province's financial markets.
The Autorite des marches financier was established on February 1, 2004. The AMF is unique since of its integrated regulation of the Quebec financial sector. It is notable in areas such as insurance, securities, deposit institutions and with the distribution of financial products and services. More specifically, the AMF's mission is to; provide assistance to consumers of financial products and services. Ensure that the financial institutions and other regulated entities of the financial sector correspond with the obligations imposed on them by the law. Supervise the activities connected with the distribution of financial products and supervise stock market and clearing house activities and monitor the market. The Autorite des marches financier is also one of the two major security regulators in Canada. The largest being the Ontario Securities Commission. The AMF regulates securities within the province of Quebec and its major exchange under its power is the Montreal Exchange.
The Autorite des marches financier reported on its enforcement of the laws inside the province of Quebec. In 2011 alone, a total of 1,201 individuals were sanctioned for various offences of the law. The AMF sent slightly more than $5.6 million dollars in fines and penalties. Illegal distributions being the most common type of offence which was prosecuted in 2011. There was 29 suits brought against 76 individuals and companies, 21 concluded cases involving 37 individuals and companies and 12 freeze and cease trade orders issued against...