20 December 2018 10:00
The Council of ministers of the government of Quebec has proceeded to the nomination ofEric Stevenson as assistant deputy minister in the ministry of Finance during its meeting yesterday, Wednesday, 19 December. Mr. Stevenson will assume the role on Monday 7 January 2019. He replaces Richard Boivin, who is leaving for the retirement on the 28th of December next.
Mr. Stevenson has a long experience in the financial services industry, both in Québec and in the rest of Canada. He has acquired a broad vision of the issues of the different business segments within the universe of the canadian financial system.
Pass to Lavery after the Authority
Mr. Stevenson had joined the law firm Lavery, as an associate, soon after his departure from theAuthority of the financial markets at the beginning of 2018.
The news had created a shock wave within the industry during his announcement on Monday, October 15, 2017 after the senior leaders of the industry have alerted the Newspaper about the insurance.
His departure occurred at a time when the ministry of Finance had to table the draft law 141, which aimed to reform the laws that govern the sale of insurance and financial services in Quebec, as well as the law itself, on the Authority of the financial markets.
Before joining Lavery, Mr. Stevenson held the position of superintendent of the supervision of the distribution and customer support to the financial markets Authority. It was entered in the regulator eleven years earlier, first as head of department and then to senior manager. The position of superintendent is now occupied by Frédéric Pérodeau.
Implementation of the regulation
As superintendent, Mr. Stevenson was the implementation of the regulatory policies that govern the sector of the quebec economy and to ensure that industry stakeholders have the skills and rights of practice required.
He was also responsible for the oversight of’autoréglementation sector, the Chamber of damage insurance and the Chambre de la sécurité financière, as well as the management and treatment of consumer complaints as well as the administration of the compensation Fund of the financial services. He has contributed to the reform of the registration regime for securities in Canada as well as in the consultations related to the harmonization of rules in the mutual fund industry with those of Canada. He has also led the implementation of the Law on money services businesses, a new area of activity for the Authority.
At the national level, it participates in the initiatives of regulatory Authorities canadian securities administrators in terms of the distribution, as well as the work of the canadian Council of regulators of insurance.
On the international stage, he represented the Authority at the Committee on market intermediaries of the international Organization of securities commissions. He has also been responsible for the negotiation of bilateral agreements for the mutual recognition of professional qualifications for the sectors of insurance and securities, signed in 2011, with the Autorité des marchés financiers of France and the Organization for the register of insurance intermediaries in France.