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Impose Sanctions
21 November 2019

Impose Sanctions

The AMF Enforcement Committee exercises its power to impose sanctions. How does the sanction procedure work? Who can be sanctioned?

Sanction

The law defines the procedure, the persons who may be sanctioned, the nature of sanctions and the maximum fines. It also defines the public nature of hearings and decisions. The Enforcement Committee, considered to be the AMF’s enforcement arm, is made up of 12 members, none of whom sit on the Board. It enjoys full independence from the Board when making its decisions.

Who may be sanctioned?

The Enforcement Committee may issue sanctions against professionals under AMF supervision who breach their professional obligations; individuals under the authority of these professionals or acting on their behalf;
any other person that commits market abuse or any other breach that could impair investor protection or interfere with orderly markets.

What kinds of sanction may be issued?

The applicable sanctions vary depending on the type of respondent and offence. If the sanction is a fine, it is paid to the Treasury or the guarantee fund to which the professional belongs. 

Enforcement Committee Procedure and Hearings

Enforcement Committee Procedure and Hearings

Enforcement Committee Procedure and Hearings
Enforcement Committee Procedure and Hearings
10 December 2019
Enforcement Committee La Commission des sanctions
21 November 2019
Monitoring and Surveillance Suivre et surveiller
21 November 2019
Investigate and Inspect Enquêter et contrôler