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09 April 2021

Our priorities for Action and Supervision

Each year, the AMF publishes its action and supervisory priorities. In 2021, our focus will be on remaining fully engaged in tackling the health crisis, taking part in the reforms that will shape future financial regulation and speeding up the transition to sustainable finance. Read the details of our priorities for 2021.

Our priorities for action

Be fully engaged to overcome the health and economic crisis

We will assist issuers in their financial operations and disclosure to ensure that investors are properly informed and ensure high-quality shareholder dialogue. We will contribute to the regulatory changes made in response to the market turmoil of spring 2020. Remaining fully engaged also means ensuring that investors are educated, supported and protected against the risks associated with the new market environment.

Participate in the reforms that will shape future financial regulation

We will contribute to the Capital Markets Union and the planned legislative reviews with the threefold objective of investor protection, financing of the economy, and ensuring increased European competitiveness following the withdrawal of the UK from the European Union. It is against this post-Brexit backdrop that we will monitor market developments to support market participants and make any necessary adjustments to the regulatory framework. Lastly, we will continue to foster innovative European digital finance markets.

Accelerate the transition to sustainable finance

We will support the French financial centre in implementing the regulatory framework and in mastering the integration of sustainable finance and climate challenges. This will also consist in helping issuers to improve the quality of non-financial information and contribute to improving the robustness of European regulations on non-financial information, while facilitating innovative approaches to sustainable finance.

Continue rolling out the objectives of the strategic plan related to supervision

At the same time, we will pursue our internal objectives of reducing time frames and maintaining the effectiveness of our enforcement procedures. We plan to intensify our monitoring of asset management companies, with streamlined procedures and easier information exchange through the ROSA extranet, and to generalise the risk-based approach to supervision through increased data use.

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Our supervisory priorities

In 2021, our thematic monitoring and oversight priorities will concern:

  • For asset management companies: implementation of best selection and best execution obligations, the system for preventing market abuse in asset management companies, setting and transparency of costs and fees in collective investment management, valuation and liquidity of real estate funds, monitoring and control of asset management companies by depositaries;
  • For market intermediaries: security of market infrastructure information systems, implementation of post-trade transparency requirements on bonds, product governance by financial instrument producers, application of the European regulation for simple transparent and standardised securitisation, cross-border operations, transition plans towards benchmarks indices;
  • For marketing players: supervision of financial investment advisors, compliance with the rules for assessing the appropriateness and suitability of investment services providers.