In 1977, the newly elected Parti Québécois (PQ) government passed the Charter of the French Language (known as Bill 101), making the use of French language mandatory for medium and large-scale companies when communicating with French-speaking staff. This law, the election of the PQ, and the threat of Quebec independence caused instability in the province's business environment, and accelerated the move of some companies' headquarters from Montreal to other Canadian cities, including Calgary and Toronto. Some companies remained in Montreal, including the Montreal Exchange North America's oldest brewery, Molsons, but others moved their headquarters elsewhere, such as the Bank of Montreal, Sun Life Financial, the Royal Trust and The Guarantee Company of North America. Toronto had surpassed Montreal as the financial capital of Canada in 1934, and the move of these companies out of Montreal marked the end of an era.