Assurance Banque Épargne, the Joint Unit of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) publishes its 2015 annual report
For over six years, the Joint Unit of the ACPR and the AMF has had the role of protecting retail investors in the banking, insurance and financial services sectors. At a press conference held today, Olivier Fliche, Joint Unit coordinator and Head of Business Practices Supervision at the ACPR, and Claire Castanet, Executive Director of Retail Investor Relations at the AMF, commented on the highlights of the past year and the prospects for 2016-2017.
A single contact point for financial sector consumers
After six years of cooperation, the Joint Unit is continuing its activities while adapting to the new needs involved in protecting the public in financial matters.
Conclusions from coordinated inspections and joint actions
The Joint Unit's outlook for 2016-2017
Coordinated inspections and monitoring, which are the Joint Unit's fundamental tasks, will continue in 2016 and 2017. The Joint Unit will be especially attentive to innovative marketing practices at a time when the rapidly increasing use of digital technologies in the financial sector is prompting scrutiny by European bodies. The ACPR and AMF will also pursue their efforts to see that the practice of discretionary management mandates for life insurance, when it involves direct investment in securities, is covered by a framework of consumer protections equivalent to the one that exists for portfolio management. Likewise, they will continue their work on the marketing of products constituting prudential capital. Last, they will undertake a new project, the assessment of marketing practices and rules for consumer protection specific to vulnerable categories of people.
Appointment of a new Joint Unit coordinator
At the press conference, Édouard Fernandez-Bollo, Secretary General of the ACPR, and Benoît de Juvigny, Secretary General of the AMF, also announced the appointment of Claire Castanet, Executive Director of Retail Investor Relations at the AMF, as the new coordinator of the Joint Unit as of 1 July 2016.
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Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02