27 November 2025 | Policy | Instruction DOC-2011-21 - … company's programme of activity. In particular, any plan to sub-delegate investment management requires the … or shareholders with prior information about employee savings (in particular the Key Investor Information Document … 30-4 of this instruction must have 60% exposure or more to equity markets at all times. The classification then depends … |
30 September 2025 | Ombudsman’s Blog | Acquisition of unlisted shares in a PEA: the date on which ownership is transferred is important The eligibility of unlisted securities for a PEA or PEA-PME is subject to strict conditions, which are often a source of difficulties. These conditions include the rule whereby the transfer of ownership of the securities cannot take place prior to the debiting of the cash account. This month, I take a closer look at this rule in a dossier that… … the funds needed to acquire the unlisted shares to his plan, and that these funds had been immediately transferred … the date on which ownership is transferred is important … Equity Savings Plan … |
22 July 2025 | Enforcement Committee news releases | The AMF Enforcement Committee fines a Danish investment bank for breaches of professional obligations committed by a French branch In its decision of 16 July 2025, the Enforcement Committee imposed a fine of €300,000 on the Danish investment bank Saxo Bank A/S, as successor to the rights and obligations of the Dutch company BinckBank NV, for breaches of several professional obligations committed by a branch in France. … Committee noted shortcomings at the branch with regard to equity savings plan (PEA) transfers, as well as a failure to provide … |
02 June 2025 | Ombudsman’s Blog | Inheritance: the advantageous fee schedule of a securities account ceases when the client dies Heirs sometimes do not understand why they do not benefit from the same advantageous fee schedule as the deceased. As the agreements between a banking or financial institution and its client are intuitu personae, i.e. entered into in consideration of the person, they necessarily come to an end when the client dies, as I will set out in this month… … channel. It should be noted that, in the case of a PEA (equity savings plan), these fees are capped and the regulations distinguish … |
12 May 2025 | Report / study | Real estate investments: perception of risk and liquidity - May 2025 This study tested investors' understanding of the risk and liquidity of different forms of real estate investment (collective invesments, investment in the context of participative financing), based on their reading of information documents. … retail investors • All have a minimum of €20,000 in savings/maximum €200,000 • 50% hold real estate investments, … accounts • Life insurance • PER (retirement savings plan) • PEE (employee savings plan) • Securities accounts … • Perceived as less risky than CAC 40 equities or private equity A lever for diversification: • An investment that … |
12 May 2025 | Household Savings Newsletter | AMF Household Savings Newsletter - No.61 - May 2025 As it does every year, the AMF takes stock of fee trends for financial investments, both for direct investments in individual equities (posted fees as of January 2025) and for collective investments (average annual fees applied in 2024). For equity and diversified funds, the trend is downwards.The Letter also features a focus on investors'… … AMF Household Savings Newsletter - No.61 - May 2025 … As it does every … investments (average annual fees applied in 2024). For equity and diversified funds, the trend is downwards. The … 0,50% (€25) €10,000 order 0,46% (€46) 0,48% (€48) PEA plan Securities account €10,000 portfolio 5 investments 0,50% … |
15 April 2025 | Ombudsman’s Blog | PEAs and PEA-PMEs: the importance of the first payment to validate the opening date Many investors want to open a PEA or PEA-PME to trigger the five-year period during which they can benefit from tax advantages. However, there is one crucial point that merits investors’ full attention: the opening date for legal and tax purposes is the date on which the first payment is made into the plan, not the date on which the contract is… … into it in July 2024, his bank advisor told him that his plan was not valid and that, in order to be able to make … lose the tax benefits he had been enjoying thanks to this plan, which he said had been open for seven years. In … of the first payment to validate the opening date … Equity Savings Plan … |
28 February 2025 | Professional guide | Guide for writing letters to fundholders of authorised CIUs The AMF has published a guide that sets out the main principles to be observed when writing letters to unitholders or shareholders. It stresses the need to adopt a clear and concise style that will make it easy for investors to understand. … … Investor letter standard template change of an employee savings plan investment fund (FCPE) Investor letter standard template … letter standard template dissolution of a retail private equity investment fund (FCPR) The AMF has published a guide … |
14 January 2025 | News | AMF 2024 Barometer: French equity investment intentions remain high The Autorité des Marchés Financiers (AMF) publishes its annual Savings and Investment Barometer. This latest edition confirms the French public's interest in equity investments, particularly among younger people. … AMF 2024 Barometer: French equity investment intentions remain high … The AMF’s Savings and Investment Barometer measures changes in French … are mainly driven by those under 35. 53% of them plan to invest in equities, compared with 42% in 2023. … High … |
14 January 2025 | Household Savings Newsletter | AMF Household Savings Newsletter - No. 60 - January 2025 The Letter No. 60 presents the main results of the last edition of the AMF Savings and Investment Barometer. It highlights the continued high level of investment intentions in equities among investors, mainly the youngest.The AMF Barometer also uses new questions to explore the relationship between financial advisors and retail investors. … AMF Household Savings Newsletter - No. 60 - January 2025 … The Letter No. … is still primarily true of the under-35s. 53% of them plan to invest in equities, compared with 42% in 2023 (see … to invest, fewer younger people than older people consider equity investments to be high- risk, while more younger … |
