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.
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.
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.
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.
As the coordinator is appointed for a two-year period and selected alternately from the ACPR and AMF's staffs, Claire Castanet will serve until 30 June 2018. Her correspondent at the ACPR will be Olivier Fliche, Head of Business Practices Supervision at the ACPR, who has been Joint Unit coordinator since 2014. At the press conference, the ACPR and AMF Secretaries General thanked Olivier Fliche for the excellent work of the two organisations' teams during this period.
Do you have any questions?
Assurance-Banque-Epargne Info Service: www.abe-infoservice.fr or call 0811 901 801, Mondays to Fridays from 8am to 6pm.
AMF: http://www.amf-france.org or call 01 53 45 62 00, Mondays to Fridays from 9am to 5pm.
AMF Communication Directorate – Caroline Leau – Tél. : +33 (0)1 53 45 60 39 ou +33 (0)1 53 45 60 28
ACPR Communication Departement – Dominique Poggi – Tél. : + 33 (0)1 49 95 42 59 ou + 33 (0)1 49 95 40 29