Merci de désactiver le bloqueurs de pub pour visualiser cette vidéo.
Visuel actualités
Intermediation in miscellaneous assets: amendment to the General Regulation and publication of a new Instruction (2017-06)
19 July 2017

Intermediation in miscellaneous assets: amendment to the General Regulation and publication of a new Instruction (2017-06)

Law No. 2016-1691 of 9 December 2016 on transparency, anti-corruption and economic modernisation (the so-called Sapin II law) changed the rules on intermediation in miscellaneous assets laid down in articles L. 550-1 et seq. of the Monetary and Financial Code. Consequently, the AMF is amending its General Regulation and publishing a new instruction.

In compliance with the provisions of article 79 of the Sapin II law:

  • the system governing transactions in miscellaneous assets pursuant to article L. 550-1, paragraph II of the Monetary and Financial Code is aligned with the one governing transactions in miscellaneous assets pursuant to paragraph I of the same article as regards the prior checks the AMF carries out on these investment proposals, while enabling two different systems of intermediation in miscellaneous assets to co-exist;
  • the AMF is authorised to determine, within its General Regulation, and for all investment transactions in miscellaneous assets, “the minimum level of guarantees required for a retail investment”.

As well as amending its General Regulation, the AMF is publishing a new instruction that supersedes the Commission des Opérations de Bourse instruction of 1 March 1986 (Instruction DOC-1986-01).

This new instruction indicates the resources which the intermediaries in miscellaneous assets (pursuant both to paragraphs I and II of article L. 550-1 of the Monetary and Financial Code) must possess, defines the methods for registering the information documents that must be filed with the AMF and provides details on the content of said documents.

From now on, no transaction in miscellaneous assets (pursuant both to paragraphs I and II of article L. 550-1 of the Monetary and Financial Code) can be the subject of advertising or direct marketing without the AMF first assigning a registration number on the investor information document. The AMF takes this opportunity to mention the criminal sanctions included in the Monetary and Financial Code.

27 February 2019
Speech by Robert Ophèle, AMF Chairman - 'Innovation and regulation: The french approach to crypto' - 3rd Annual Fintech Conference - Brussels - 26 February 2019 Speech by Robert Ophèle, AMF Chairman - 'Innovation and regulation: The french approach to crypto' - 3rd Annual Fintech Conference - Brussels - 26 February 2019
25 April 2018
Speech by Robert Ophèle, President of the AMF, to the 'Virtual Currencies' fact-finding mission set up by the National Assembly Finance Committee Chairman: Eric Woerth,… Speech by Robert Ophèle, President of the AMF, to the 'Virtual Currencies' fact-finding mission set up by the National Assembly Finance Committee Chairman: Eric Woerth, Rapporteur: Pierre Person - 5 April 2018
22 February 2018
The AMF publishes the summary of responses to the public consultation on initial coin offerings (ICO) The AMF publishes the summary of responses to the public consultation on initial coin offerings (ICO)