The AMF publishes its 2024 Annual Report
Presenting the AMF’s annual report to the press, the Chair of the Autorité des Marchés Financiers, Marie-Anne Barbat-Layani, outlined three major challenges for the institution in an uncertain geopolitical and economic environment: at the international level, continuing work on financial stability; at the European level, bringing the Savings and Investments Union project to fruition; and at the national level, protecting investors and combating financial insecurity.
For several months now, geopolitical tensions have been affecting financial markets. Faced with significant spikes in volatility, market infrastructures and financial market participants have shown great resilience, particularly from a technical perspective. But vigilance is still the order of the day and, consequently, international cooperation between regulators is a priority for us. The structural and rapid changes taking place in the financial sector have encouraged us to fully engage in international work on financial stability.
The relaunch of the Savings and Investments Union is another key project for this year. In addition to the considerable financing needs associated with the digital and climate transitions, Europe now faces also has needs of defence. Putting an end to the fragmentation of the European financial markets and enabling them to develop is a necessity if the engine of European finance is to work more efficiently and provide Europe with the means for its strategic autonomy and its political choices. This is the financial project of our generation. To bring this project to fruition, three major priorities must be pursued: mobilising European savings, establishing genuine European supervision of the capital markets - a guarantee of real simplification - and relaunching securitisation.
In a savings landscape that is in the midst of a revolution, regulators are mobilised to protect investors and preserve their confidence. At a time when social media networks and artificial intelligence are formidable tools for scammers, we have decided, within the framework of the International Organization of Securities Commissions, to enter into a dialogue with the major digital platforms to make them more accountable in the fight against scams and fraudulent websites. But the scourge of financial insecurity also requires the AMF to have enhanced legal powers to combat financial crime more effectively. This is why I am calling for a law on financial security.
The AMF's 2024 annual report is an opportunity to review the regulator’s work and its contribution to the discussions taking place at the national, European and international levels, in relation to its six strategic orientations it defined in June 2023: being a demanding regulator for a leading European market place, having a strong European and international action, protecting retail investors, promoting more sustainable finance, supporting innovation, and being an attractive and efficient authority serving the public interest.
The report also provides a detailed account of the AMF's activities over the past year in its fields of competence, namely listed companies' financial operations and disclosures, investment services providers and savings products, market infrastructures, market supervision and enforcement. The final chapter of the report presents the Authority's financial statements.
AMF key figures for 2024
- 516 employees (average full-time equivalent)
- Involvement in 54 working groups within European regulatory bodies and 28 groups at international level, mainly within the International Organization of Securities Commissions (IOSCO) and the Financial Stability Board (FSB).
- 13,374 requests handled by Epargne Info Service
- 1,969 mediation cases handled
- 272 financial operations approvals issued
- 37 compliance decisions taken in relation to public offers made during the year
- 27 asset management companies authorised
- 695 asset management companies monitored
- 13,204 collective investment undertakings (CIUs) monitored, with assets totalling €2,158bn
- 3 digital asset services providers registered during the year and 3 authorised (PACTE regime)
- 30 investigations opened
- 56 inspections opened
- 12 settlement agreements approved, amounting to a total of €2.39m
- 12 enforcement decisions, amounting to a total of €34.94m
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.Visit our website https://www.amf-france.org/en
Press contact
On the same topic
