a man interrupts a cascade of falling dominoes

The Autorité des marchés financiers (AMF) is delaying the launch of its new strategic plan until April 2021, citing the effects of Covid-19.

The AMF published its priorities for the current fiscal year, stating that that it will continue with its current strategic plan due to the pandemic.

The AMF said that it has delayed adoption of its new plan until April 1 next year, citing “the prevailing uncertainty and potential impacts of the pandemic on the financial sector.”

The regulator said that postponing the new plan will enable it to confirm its strategic direction and make any necessary adjustments.

“The Covid-19 pandemic is causing an unprecedented shock and it is essential to respond effectively and proactively to its real and potential impacts on consumers and the Quebec financial sector,” said Louis Morisset, president and CEO of the AMF in the statement.

The Ontario Securities Commission (OSC) also published its required statement of priorities for the current fiscal year, which sets its policy agenda.

This year, amid the pandemic, the OSC did not engage in its usual consultation on its priorities.

Instead, it relied on the previous year’s priorities and its regulatory burden reduction report to guide its agenda for this year.

“The underlying focus of our 2020-2021 priorities is on investor protection and on maintaining confidence in fair and efficient capital markets — both prerequisites for economic growth,” said Grant Vingoe, acting chair and CEO of the OSC, in a statement.

“Coming out of this pandemic, our focus is on the financial security of investors and the ongoing health and functioning of our capital markets,” he said.

The OSC pledged to undertake a more substantive consultation in the autumn to help set its business plan for next year.

“We will adapt our priorities as necessary to address the effects of the pandemic and in response to our government’s ongoing work to modernize Ontario’s capital markets,” Vingoe said.

The OSC also said that it will “stay flexible in the current environment” as it “responds to the challenges presented by the pandemic.”