The Act respecting the Agence nationale d'encadrement du secteur financier was enacted by the National Assembly on December 11, 2002. This Act, known as "Bill 107", establishes a new regulatory structure for the Québec financial sector. Bill 107 implements most of the recommendations of the December 2001 Report of the Task Force on Financial Regulation in the Québec Financial Sector, which based its proposal of a single regulatory body on its analysis of the recently proposed amendments to the regulatory structures of the financial sectors in Ontario, France and the U.K.

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