18 December 2025 | Policy | Instruction DOC-2011-20 - … parent company). In the specific case of securitisation products or special-purpose vehicles with other underlying … risks inherent to the structure of the investment for structured financial instruments; d) the liquidity profile. … financial contracts, as well as securities with embedded derivatives, in order to measure the exposure of the AIF. … |
18 December 2025 | Policy | Instruction DOC-2011-19 - … 27 Article 30-8 – “Structured fund” … a) The delegated activity concerns only transactions and products, or markets, that are covered by the authorisations … both the WAL and WAM calculations, the impact of financial derivatives, term deposits and the techniques and instruments … |
18 December 2025 | Policy | Instruction DOC-2011-21 - … two A4 pages long in printed form, except in the case of structured employee investment undertakings, for which the … parent company). In the specific case of securitisation products or special purpose vehicles with other underlying … both the WAL and WAM calculations, the impact of financial derivatives, term deposits and the techniques and instruments … |
26 November 2025 | In-depth | The Benchmarks Regulation The administration of indices used as benchmarks is subject to Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016. The Benchmarks Regulation aims to restore confidence in financial benchmarks by laying down a regulatory framework at European Union level covering the provision, contribution and use of benchmarks. … KX1WK48MPD4Y2NCUIZ63 Enregistrement 19/12/2019 Exane Derivatives https://www.exane.com/corporate/home.do … of setting the terms of a derivative contract. 16 2. structured investment funds that provide investors with … including metals and their ores and alloys, agricultural products, and energy such as electricity”. The scope of this … |
22 April 2025 | News | Fees: the AMF updates its doctrine following the announcement of the abolition of transaction fees in situations of discretionary management Following the announced an amendment to its General Regulation extending the ban on transaction fees to the service of portfolio management on behalf of third parties (discretionary management), the Autorité des Marchés Financiers (AMF) has updated its doctrine to clarify how this ban will be implemented. … the context of share issues on the primary market, or for structured or over-the-counter products. Position The AMF considers that service providers … to their issuer or manufacturer30 and/or ‘tailor-made’ derivatives (over-the-counter financial instruments), the … |
22 April 2025 | Policy | Position - Recommendation DOC-2013-10 - Inducements and fees received in connection with the distribution and discretionary management of financial instruments Position-Recommendation DOC-2013-10 clarifies the application of the regime governing inducements and fees received in connection with the distribution and discretionary management of financial instruments. … the context of share issues on the primary market, or for structured or over-the-counter products. Position The AMF considers that service providers … to their issuer or manufacturer30 and/or ‘tailor-made’ derivatives (over-the-counter financial instruments), the … |
09 April 2025 | AMF news release | The French and Italian authorities make proposals for a more competitive “Pilot Regime” in Europe Since its entry into force in March 2023, the Pilot Regime has struggled to gain a foothold in the market, despite growing interest from market participants. In light of this, the French AMF and the Italian CONSOB are submitting proposals to the European Commission and the European co-legislators to create a more suitable regulatory framework to… … could be extended to include more diversified financial products, such as structured bonds and some derivatives. Lastly, extending the duration of the Pilot … |
09 April 2025 | AMF’s EU positions | Towards a more competitive european Pilot Regime: proposals from the French and Italian authorities for fostering experimentation by blockchain-based market insfrastructures The Pilot Regime, which came into application in March 2023, aims to encourage the experimental use of distributed ledger technology (DLT) by market infrastructures. This regulatory initiative is intended to promote innovation while ensuring investor protection and maintaining the integrity of financial markets. The AMF (Autorité des Marchés… … projects - Extend the list of eligible assets to include structured bonds and certain derivative products - Admit the "Organized Trading Facility" status, for … market, the addition of structured bonds and certain derivatives could enable players to propose new use cases for … |
03 April 2025 | AMF news release | The AMF and ACPR Joint Unit publishes its analysis of the French structured product market Against a backdrop of strong growth on the market for structured products sold to retail investors, the Joint Unit for Insurance, Banking and Retail Investment of the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (the French Prudential Supervisory and Resolution Authority, ACPR) has carried out a… … and ACPR Joint Unit publishes its analysis of the French structured product market … In 2024, the ACPR and the AMF set up a working group to map the structured products market, which experienced rapid growth between 2021 … of the French structured product market … Marketing … Derivatives or structured products … |
19 February 2025 | Spot Inspections | Summary of SPOT inspections on the monitoring of funds (UCITS, AIF) investment ratios, and of related compensation and claims An investment ratio is a limit that a portfolio asset management company (AMC) is obliged not to exceed when managing a fund, and to correct as quickly as possible if it is nevertheless exceeded. An investment ratio, which is set out in the rules or contractual documentation, must be complied with at all times. It may be financial or non-financial… … instruments issued by a single entity, or in deposits or derivatives entered into with that entity constitutes a … and monitoring of regulated market participants and products, and enables it to detect situations requiring its … are defined by the management team when the product is structured. The Chief Compliance and Internal Control Officer … |
