The AMF applies the joint guidelines issued by the European Supervisory Authorities to facilitate the exchange of information between National Competent Authorities
The AMF applies the joint guidelines issued by the European Supervisory Authorities (ESAs) on the system for the exchange of information between National Competent Authorities (NCAs) on the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market participants.
A new framework to facilitate the exchange of information
In order to facilitate information sharing between NCAs on the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market participants, the three ESAs (ESMA, EBA, and EIOPA) have established a joint digital platform.
This initiative results from Article 31a of Regulation (EU) No 1093/2010, Regulation (EU) No 1094/2010 and Regulation (EU) No 1095/2010. It states that the ESAs shall establish "a system for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial market participant".
Harmonised cooperation and exchanges
In accordance with the French Monetary and Financial Code, by means of international requests, the AMF may seek the cooperation of financial markets regulators to obtain information on individuals or legal entities if there is a link with the country of the regulator in question.
The aim of this new system is to enhance the effectiveness of fit and proper assessments conducted by NCAs on natural or legal persons, by helping them to identify other NCAs that have already carried out assessments on the same natural or legal persons.
The AMF has begun the process of populating the platform, thereby complying with the joint guidelines issued by the ESAs.
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