Valérie Michel-Amsellem becomes Chair of the AMF Enforcement Committee

After the partial renewal of the Enforcement Committee following the departure of four members, Jean Gaeremynck, Didier Guérin, Lucien Millou et Sandrine Elbaz Rousso, and after the renewal of two members, Anne Le Lorier et Ute Meyenberg, the newly-formed Enforcement Committee elected its new chair at its first meeting on 28 February 2024.

Valérie Michel-Amsellem, a magistrate and former student of the Ecole Nationale de la Magistrature (1986), has been a judge of the Commercial, Economic and Financial Division of the Court of Cassation since 2019. From September 2015 to September 2019, she was the chair of the Economic and Financial Regulation Chamber (Division 5 - Chamber 7) of the Cour d'Appel de Paris, which hears appeals against the decisions of a number of independent authorities. She previously held the positions of judge at the Cour d’Appel de Paris from 2012 to 2015, assistant judge at the Court of Cassation from 2003 to 2012, and rapporteur and subsequent deputy general rapporteur at the Conseil de la Concurrence, now the Autorité de la Concurrence, from 1993 to 2012.

Valérie Michel-Amsellem has been a member of the Enforcement Committee since September 2021 and of the Supervisory Board of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) since 2020. Additionally, she chaired the advertising ethics panel of the Autorité de Régulation Professionnelle de la Publicité from 2012 to 2015.

As allowed by the Monetary and Financial Code, the Committee is organised into two sections, each composed of six members and chaired by one of the judges of the Conseil d’Etat or the Court of Cassation. To decide on a case, the Committee may meet in plenary session or in a section meeting.

The chair of the Enforcement Committee was elected by the committee members from among the four judges appointed by the Vice-President of the Conseil d’Etat and the Chief Justice of the Court of Cassation. Valérie Michel-Amsellem will therefore chair plenary sessions as well as the sittings of the first section. The members of the Committee also elected Jean-Claude Hassan, Honorary member of the Conseil d’Etat, previous member of the AMF Board, and of the AMF Enforcement Committee from 2008 to 2013, as chairman of the second section.

About the Enforcement Committee
The Enforcement Committee, which is made up of judges and professionals, has total freedom to make decisions. It can impose sanctions on any person or company whose practices contravene laws and regulations that fall within the jurisdiction of the AMF. It ratifies settlement agreements signed by the Secretary General and respondents. And it takes part in the AMF’s educational efforts by clarifying financial regulations when explaining its decisions.