21 March 2022 | Policy | Position - Recommendation DOC-2014-06 The AMF recommendation DOC-2014-06 details the expectations of the AMF for the operation and organisation of compliance, risk management, internal monitoring and periodic control functions within asset management companies (AMCs). This guide specifies, notably, how different control functions should be structured and is aimed at AMCs that manage… … Counterparty risk is defined as the risk of loss for the collective investment scheme or the individual portfolio from … Market risk is defined as the risk of loss for the collective investment scheme or the individual portfolio … management businesses and to the sale of collective investments; - provide training to the relevant people on all … |
21 March 2022 | Policy | Instruction DOC-2012-01 Collective investment undertaking management activities and discretionary portfolio management investment services are subject to specific risk management organisation rules (counterparty, liquidity and market risks and operational risk). The instruction DOC-2012-01 defines the permanent risk management function, the procedures for delegation to… … Risk management organisation for collective investment undertaking management activities and … management companies Organisational rules Policy Collective investment undertaking management activities and … used are adequate to the characteristics of the investments and the management strategy applied; 2. It checks … |
11 March 2022 | Ombudsman’s Blog | Not being able to subscribe to a fund does not necessarily imply a refusal to sell Some funds are strictly reserved for professional clients, and clients who do not meet the subscription conditions required by the fund cannot acquire units, even if they want to. It is this particular case that I will present to you in this month's issue. … to a fund does not necessarily imply a refusal to sell … Collective investments … |
24 February 2022 | Household Savings Newsletter | AMF Household Savings Newsletter - No. 47 - February 2022 The AMF monitors the fees charged to stock market investors. Last observations show that there has been a moderate downward trend in fees, for orders in equities placed over the internet, as well as for funds annual fees. … Household Savings Newsletter - No. 47 - February 2022 … Collective investments … Shares … Long term investment … |
02 February 2022 | News | The AMF updates its policy on the marketing communications of collective investments Following the application of ESMA’s Guidelines on marketing communications, the AMF is updating its Position-Recommendation DOC-2011-24 on the drafting of marketing materials and the marketing of collective investment undertakings in order to harmonise its policy for investment management companies and distributors. … AMF updates its policy on the marketing communications of collective investments … Background … The ESMA Guidelines … governing the drafting of marketing materials for all collective investments marketed in France (UCITS, AIFs, … |
27 January 2022 | News | Update of the AMF's policy on funds that use Total Return Swaps and communicate about their consideration of non-financial criteria In December 2020, the AMF published an initial policy restricting communication by these collective investment schemes and inviting market participants to define a robust framework to enable the development of these products. The AMF is updating its policy, which opens up possibilities for communicating on these products, following the publication… … be free of ambiguity about the effective impact of these investments on the environment or society, for example. … Read more … Non-financial approaches in collective investment schemes Instruction DOC-2020-03: Information to be provided by collective investment schemes incorporating non-financial … |
14 January 2022 | Retail investors dashboard | The Active Retail Investor Dashboard - N°5 - January 2022 The Active Retail Investor Dashboard provides quarterly updates on individuals who have carried out at least one transaction on financial instruments in the past three months. … Retail Investor Dashboard - N°5 - January 2022 … Shares … Collective investments … Financial services providers … |
07 January 2022 | Report / study | Stimulating the diversification of long-term savings in equities This report notes the under-diversification of French savings. Based on the findings of the AMF Savings and Investment Barometer and those of behavioural finance, it reaffirms the importance of financial education and the supporting role of professionals. … savings in equities … Long term investment … Shares … Collective investments … |
29 December 2021 | Enforcement Committee news releases | The AMF Enforcement Committee fines an asset management company for several breaches of its professional obligations In its decision of 20 December 2021, the Enforcement Committee handed down a warning to management company Twenty First Capital, along with a fine of €100,000. … to a lack of diligence in monitoring the selection of investments, considering that the lack of traceability of a … is not sufficient to establish that the selection of investments was made without regard to the interests of the collective investments. An appeal may be lodged against this … |
07 December 2021 | AMF news release | The AMF's latest savings barometer finds that the French are more receptive to equities The fifth edition of the AMF savings and investment barometer shows an increase in intentions to subscribe to equity investments, particularly among younger people. … in the stock market and a renewed interest in equity investments, against a backdrop of low interest rates and … of people in France who refuse "any risk on their investments although they know that the return will continue … receptive to equities … Long term investment … Shares … Collective investments … |