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19 January 2026

Consultative Commissions

Comprising financial market participants, experts in management or market operation, representatives from professional associations or investor advocacy groups, the six AMF Consultative Commissions help inform the Board’s decisions on changes to regulations or AMF policy.

Tasks

One commission for each of the AMF's main areas of action

Acting on its determination to dialogue and collaborate with members of the Paris financial community, the AMF Board set up six Consultative Commissions. Each comprises 20 or so experts and is devoted to a specific area of AMF action:

  • Clearing, Custody and Securities Settlement
  • Retail Investors
  • Climate and Sustainable Finance Commission
  • Asset Management and Institutional Investors
  • Disclosures and Corporate Finance
  • Markets and Exchanges

An outside perspective to assist the AMF

The members of the Consultative Commissions hold discussions and provide opinions to assist the AMF in its deliberations and help it formulate policy in the light of developments affecting products, market structures and the legal and financial environment, both domestic and international. The Board consults the commissions on draft legislation and emerging regulatory issues.

Operating procedures governed by a charter

Each Consultative Commission is chaired by a Board member and meets on average every 6 to 8 weeks. The commissions operate in accordance with a charter adopted by the Board and signed by members. This charter specify:

  • the terms under which the Board may appoint members (including requisite qualities, term of office, renewal)
  • the tasks assigned to commission chairs
  • types of work conducted
  • organisation of meetings (schedule, minutes, follow-up, confidentiality obligations).

Members

Each commission has a chair

Each Consultative Commission is chaired by a Board member appointed by the Board. The chair leads discussions and draws conclusions. Another Board member acts as vice-chair.

Specific expertise

The members of the Consultative Commissions are appointed by the AMF Board because of their skills and expertise in the areas covered by each commission.

The commissions are made up of financial market participants, professionals and academics with expertise in the relevant areas and businesses.

Three-year renewable term

Members of the Consultative Commissions are appointed to a three-year term that may be renewed by a decision of the Board.

Confidentiality requirements

The members of the Consultative Commissions are required to keep confidential the subjects that they cover within the commissions. They are not allowed to express themselves individually in the name of the commission to which they belong.

Membership of the Consultative Commissions

Clearing, Custody and Securities Settlement

Jean-Marc Eyssautier, Chair
Nathalie Gay-Guggenheim, Vice-Chair

Patrick Barban (CY Cergy Paris Université)
Noëlle Belmimoun (ArcelorMittal)
Sylvie Bonduelle (SG Securities Services)
Haroun Boucheta (BNP Paribas Securities Services)
Stéphanie Cabossioras (SG Forge)
Corentin Couvidat (Blackrock)
Jean-Luc Delassus (Expert indépendant)
Geert Desmedt (Euroclear ESES)
Isabelle Drinkuth (Amundi)
Stéphane Giordano (AMAFI)
Pascal Guillot (France Post-Marché)
Hélène Kouyate (Clifford Chance)
Hervé Labbé (Lise)
Yannig Loyer (Axa IM)
Marion Pinta (Caceis Bank)
Frédéric Planet (Natixis)
Corentine Poilvet-Clédière (LSEG)
Marie Thomas (Euronext)

The Banque de France is ex officio member. A representative from the Treasury is invited to attend every Consultative Commission meeting.

Retail Investors

Corinne Dromer, Chair
Olympe Dexant-de Bailliencourt, Vice-Chair
Loïc Desmouceaux, Vice-Chair

Sandrine Bastide (Association ANCRE)
Raphaëlle Bertholon (CFE-CGC et CIES)
Quentin de Beauchesne (Association CryptoFR)
Céline Chapman (Cabinet Colman Avocats)
Marielle Cohen-Branche (Expert indépendant)
Hélène Feron-Poloni (Cabinet Lecoq-Vallon & Feron-Poloni)
Jean-François Filliatre (Quesaco et ADAM)
Véronique Guisquet-Cordoliani (Association Place des investisseurs)
Frédéric Hermes (Force ouvrière)
Olivier Paon (Fédération française de l'actionnariat salarié)
Guillaume Prache (Better Finance et Fédération des associations indépendantes de défense des épargnants pour la retraite)
Patrick Raison (Association nationale des actionnaires de France)
Caroline Ruellan (SONJ Conseil)
Bruno Séjourné (Université d'Angers)
Frédéric Tiberghien (Fair)
Elodie Toustou (60 Millions de consommateurs - INC)

The ACPR, the Secretary General of the Financial Sector Consulting Committee and the Institute for the Financial Education of the Public are ex officio members. A representative from the Treasury is invited to attend every Consultative Commission meeting.

Climate and Sustainable Finance Commission

Marie-Pierre Peillon, Chair
Jérôme Bascher, Vice-Chair

Pervenche Berès (Association Europe - Finances - Régulations (AEFR))
Claire Bottineau (ELIS)
Anne Chanon (Ethifinance)
Héléna Charrier (La Banque Postale AM)
Florence Colombo-Fouquet (ENGIE)
Eric Dodemand (Ministère de la Transition écologique)
Eric Dumas (Altaréa / Cogedim)
Léa Dunand-Chatellet (DNCA Finance)
Eric Duvaud (ANC)
Sylvain Forté (SESAMm)
Mathieu Garnero (ADEME)
Noémie Hadjadj Gomes (CPR AM)
Kristell Herbault (Société générale)
Michèle Lacroix (SCOR)
Antoine Pugliese (WWF)
Sandra Rigot (Université Sorbonne Paris Nord)
Julien Rivals (Deloitte)
Sophie Schiller (Université Paris Dauphine)
Paul Schreiber (Reclaim Finance)
Ladislas Smia (MBO & Co)

The ACPR is ex officio member. A representative from the Treasury is invited to attend every Consultative Commission meeting.

Asset Management and Institutional Investors

Muriel Faure, Chair
Jérôme Bascher, Vice-Chair

Laura Carrère (Eiffel Investment Group)
Olivier Corby (Candriam)
Stéphanie Courtadon (Eurazeo)
Elizabeth Decaudin (Chambre Nationale des Conseils Experts Financiers) 
Jean-François Delale (Caceis France)
Frédéric Fouquet (Amundi)
Bertrand Gibeau (Agama Group)
Franck Guiader (Cabinet Gide)
Muriel Heitzmann (Groupama)
Brice Henry (Cabinet Allen & Overy Shearman)
Sarah Kressmann-Floquet (Cabinet PwC France)
Marie Lapointe (La Française)
Guillaume Lasserre (La Banque Postale AM)
Antoine Limare (DLPK)
Gaëlle Mallejac (Ostrum AM)
Bertrand Merveille (BDL Capital Management)
Martin Parkes (BlackRock)
Jean-Baptiste Tricot (Axa)
Célina Vazquez Ibanez (Natixis)

A representative from the Treasury is invited to attend every Consultative Commission meeting.

Disclosures and Corporate Finance

Jean-Baptiste Massignon, Chair
Bernard Kuhn, Vice-Chair

Alice Aymé (TP ICAP MIDCAP)
Seela Apaya-Gadabaya (Saint-Gobain)
Jennifer Baert (Natixis)
Séverine Beaufre (Cabinet D’hoir Beaufre Associés)
Sophie Bosquet-Guérin (Danone)
Jérôme Brosset (August Debouzy)
Laurent Brunelle (Bureau Véritas)
Jean-François Delcaire (HMG Finance)
Juliette Duriez (Forvis Mazars)
Per Einar Ellefsen (Amundsen IM)
François Funck-Brentano (Lazard Group)
Sophie Javary (BNP Paribas CIB)
Vincent Malassigne (CY Cergy Paris Université)
Guillaume Morelli (Euronext)
Bertrand Pruvost (KPMG)
Sébastien Ribeiro (Amiral Gestion)
Guillaume Robin (Thermador Groupe)
Cédric Testut (Orange)
Marie-Laurence Tibi (Cabinet Clearly Gottieb Steen & Hamilton)
Emilie Thiery (L’Oréal)

A representative from the Treasury is invited to attend every Consultative Commission meeting.

Markets and Exchanges

Nathalie Gay-Guggenheim, Chair
Catherine Bergeal, Vice-Chair

Delphine d'Amarzit (Euronext)
​Jaafar Amrani (BNPP CIB)​
David Angel (Virtu Financial)
Elisabeth Bertin (EDF)
Eglantine Desautel (EuroCTP)
Charlotte Fantauzzo (Natixis)
Stéphanie Hubert (AMAFI)
Stéphane Janin (Axa IM)
Mark Kepeneghian (Lise)
Frédéric Lacroix (Cabinet Clifford Chance)
Guillaume Loeuille (Société générale)
Florent Palaysi (Credit Agricole Corporate & Investment Bank) 
Sébastien Rozès (TP ICAP)
Virginie Saade (Citadel)
Laetitia Visconti (Aquis)
Caroline Zanaret-Giros (Boursobank)

The Banque de France is ex officio member. A representative from the Treasury is invited to attend every Consultative Commission meeting.