The Autorité des marchés financiers (AMF) of Quebec has published its report priorities for 2023-24 on Thursday, with numerous initiatives ranging from improving complaint handling to tightening regulation in the cryptocurrency sector.
The priorities, based on the regulator’s Strategic Plan 2021-2025, included consumer-focused initiatives such as providing tools to help consumers make complaints in the financial sector, as well as tools to increase financial literacy.
The regulator will publish a model framework for the use of artificial intelligence, as stated in the priority list, and prepare related educational materials for consumers.
As part of law enforcement, the regulator intends to combat offers of illegal products on social media through better detection, especially in the case of cryptocurrencies.
In collaboration with the Canadian Securities Administrators (CSA), the AMF said it will continue to develop a framework for the registration of cryptocurrency trading platforms subject to securities legislation.
It will also continue to optimize its tools to detect and investigate insider trading and market manipulation.
Compliance priorities included finalizing changes related to external activities and professional liability insurance for representatives and registrants, and continuing the initiative aimed at more effective collection of data from financial institutions.
The AMF also said it will continue to work on several ongoing projects with the CSA and insurance regulators, including disclosures related to total cost reporting for mutual funds and segregated funds and guidance on upfront compensation for segregated funds.
When it comes to sustainable finance, the regulator has said it will incorporate ESG factors into financial activities and decisions.
