The securities regulators in Québec, Ontario and France have signed an agreement to support cross-listings of securities between Canada and France.

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The agreement involves the Autorité des marchés financiers in Québec, the Ontario Securities Commission and the Autorité des Marchés Financiers in France.

Regulators Launch Cross-Listing Coordination Process

The framework is intended to support initial cross-listings through prospectuses. It establishes a cooperative process aimed at improving dialogue and information sharing between the three regulators.

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Yves Ouellet, President and CEO of AMF Québec, said Canada’s capital markets are “navigating a period of rapid change shaped by global economic uncertainty.” He added that the AMF Québec and OSC continue to support competitiveness in Canadian markets, in line with commitments made by the Canadian Securities Administrators in April 2025.

OSC AMF Detail Market Mandates

Companies seeking to list securities in both jurisdictions will still need to comply with all applicable regulatory and exchange requirements. The agreement does not introduce regulatory relief. Instead, it focuses on coordination during the prospectus review process and provides increased regulatory support.

OSC CEO Grant Vingoe said cooperation between jurisdictions is important for cross-listed issuers. He said the agreement is “another way we can support Canadian issuers by opening up new possibilities.”

The AMF Québec said it regulates insurance, securities, derivatives, financial product distribution, deposit institutions, mortgage brokerage and credit assessment, with a mandate to maintain market integrity and public trust.

The OSC said its mandate includes investor protection, fair and efficient markets, capital formation and financial system stability.

AMF France Highlights Market Protection Role

The AMF France said it is responsible for protecting savings invested in financial products, ensuring investor information and supervising market operations.

AMF France Chair Marie-Anne Barbat-Layani said the agreement reflects efforts to support the attractiveness of French capital markets. She said it confirms “the competitiveness of the Paris financial centre” and highlights relations with Canadian regulators. She also said the authority aims to promote a financial system while maintaining investor protection and supporting financing of the economy.