Access the presentation of the AMF
Access our missions: regulate, supervise, inform and protect
The AMF approves the rules applicable to financial markets and market infrastructures, approves the corporate finance transactions of listed companies and authorises financial services professionals and the collective investment products under its supervision.
The AMF ensures the orderly operation of markets in several ways:
What does the AMF’s approval mean? The AMF grants approval when a document reviewed as part of a corporate finance transaction meets the "3C" rule, meaning that it is complete, comprehensible and provides consistent information. It does not imply that the AMF has verified the accounting and financial data set out herein or the appropriateness of the issue.
The AMF verifies the regulatory compliance of the disclosure documents prepared by listed companies or issuers of financial instruments in connection with corporate financial transactions such as initial public offerings, rights issues and tender offers. It also ensures that the marketing documents linked to a prospectus are clearly identifiable and do not contain any information that could mislead the public.
A token issuer who wishes to carry out an initial coin offering (ICO) may apply for an approval from the AMF. This approval is issued for the token offering and not the issuer, after the AMF has verified the compliance of the information document. This approval is optional and ICOs without AMF approval will continue to be legal. However, only initial coin offerings that have received AMF approval may be marketed directly to the public in France.
The AMF approves and registers digital asset service providers (DASP). This authorisation is optional. Registration is mandatory for market participants, operating in France, who provide the services of custody and/or buying/selling digital assets for legal tender.
Protecting retail investors also means ensuring that their financial contact is reliable. Thus, after examining applications for authorisation (or permission to operate for professionals who wish to provide investment services), the AMF:
The AMF authorises the creation and marketing of many different kinds of collective investment products to investors.
They may take the form of open-ended investment companies (SICAV) or mutual funds (FCP).
To issue its approval for each of these investment funds, the AMF examines the information in the prospectus and the Key Investor Information Document (KIID).
Real estate investment compagnies (SCPI)Securitisation undertakings
They may take the form of securitisation investment funds or securitisation companies.
SOFICA funds: compagnies for the financing of the film and audiovisual industryCompagnies for the financing of non-industrial fishing (SOFIPECHE)Forestry investment compagnies (SEF)Fixed capital investment funds
The AMF decides on the award of professional licences for compliance and internal audit officers and investment services compliance officers. The Authority organises the examination to award these professional licences and proposes one-week training courses to prepare for it, 4 times a year: 2 sessions for compliance and internal audit officers and 2 sessions for investment services compliance officers.
The professional licence is recorded in a register kept by the AMF.
It only gives holders the right to exercise their function as compliance officer for the investment services provider which presented their application for the licence.