On August 9th 2006, the
Autorité des marchés financiers (AMF) has issued today a guide intended for
Québec financial institutions to help prepare for a possible influenza pandemic.
This AMF document is in keeping with other similar efforts such as the
guidelines issued by the International Monetary Fund and the Joint Forum of the
Basel Committee, which urge all financial sector participants to prepare for a
possible influenza pandemic. The document, which is intended for Québec
financial institutions, is based on the assumption that an influenza pandemic
might occur. The comments contained in the document should not be considered
alarmist, as it is up to scientists and qualified government authorities to
decide on the scope, duration and risk of an influenza pandemic.
The goal of this document is to raise awareness among Québec financial
institutions of the risk of a possible influenza pandemic, the impacts it could
have and the importance of preparing for such an event. The document is designed
as a tool for Québec financial institutions for the adoption of effective
business continuity plans that are adapted to an influenza pandemic. The AMF has
adopted an innovative and structural approach designed to foster exchanges on
best management practices in respect of such a risk. This AMF initiative
therefore goes well beyond raising awareness. It sets out orientations for
action by Québec financial institutions, while ensuring the flexibility they
need for adaptations based on specific circumstances.
Mindful of the challenges presented in managing an influenza pandemic risk,
the AMF is asking the financial institutions under its supervision to: draw on
this document to prepare effective business continuity plans that are adapted to
an influenza pandemic; forward their own comments on the impact of a possible
influenza pandemic based on their own experience for the purpose of enhancing
this analysis; provide the AMF with the contact information for resource persons
in charge of preparations and intervention in connection with a possible
influenza pandemic.
The Influenza Pandemic Guide for Québec Financial Institutions can be
downloaded
here. |