Which body administers the regulatory framework surrounding Quebec's financial sector, including the securities, financial institution and compensation sectors?

• A. Autorite des marches financiers (AMF)
• B. Canada Revenue Agency (CRA)
• C. Investment Industry Regulatory Organization of Canada (IIROC)
• D. Financial Consumer Agency of Canada (FCAC)

Answer: (A)

The Autorité des marchés financiers (AMF) is the regulator for Quebec’s financial sector. In Quebec, this provincial body administers the rules and oversight for securities markets, financial institutions operating in the province, and the compensation framework that protects investors and clients. Canada’s system combines provincial regulators with national self-regulatory organizations, but the AMF is the authority specifically responsible for Quebec’s securities, financial institutions, and related compensation matters.

Why the other options don’t fit as the main regulator here: the Canada Revenue Agency handles taxes, not market regulation; IIROC is a national self-regulatory organization that governs investment dealers’ conduct, but it doesn’t administer the whole provincial regulatory framework for Quebec; FCAC monitors consumer protection for federally regulated banks, not the broader Quebec securities and compensation framework.