14 January 2020 | Report / study | Key figures for asset management in 2018 - Own funds of asset management companies Own funds are a key indicator of the financial health and sustainability of the business activity of portfolio asset management companies. The total amount of own funds declared by asset management companies amounted to €5.5 billion at 31 December 2018. … This report presents an overview of the own funds and financial health of French portfolio asset management … firms and, to a lesser extent, subsidiaries of investment services providers. The conclusions remain the same, if we refer to … |
08 January 2020 | Report / study | Key figures for asset management in 2018 - Control systems in portfolio asset management companies In 2018, the number of employees working in compliance and internal control in the French asset management industry was practically stable compared with 2017. The number of person-days dedicated to this function rose slightly by 1.6%, from 124,920 to 126,978 between 2017 and 2018. Nevertheless, we observed another slight drop in the number of… … tightening of the regulatory framework since the 2008 financial crisis has led companies to expand their compliance … asset management companies providing control or assistance services to other entities of the same group seemed to have … companies that are subsidiaries of investment services providers (386 person-days on the average in 2018) and … |
19 December 2019 | | Article 721-6 Book VII - Token Issuers and Digital Assets Services Providers > Title II - Digital Assets Services Providers > Chapter I - Registration requirements, license requirements and common provisions applicable to licensed digital assets services providers > Section 2 - License requirements … Article 721-6 … I. - When the digital assets services provider has levels of own funds in accordance with Article L. 54-10-5 I 1° of the Monetary and Financial Code, it shall provide proof of a level of own … other appropriate guarantee. V. - Digital assets services providers shall invest their own funds in a sound and prudent … |
19 December 2019 | | Article 722-22 Book VII - Token Issuers and Digital Assets Services Providers > Title II - Digital Assets Services Providers > Chapter II - Specific provisions applicable to licensed digital assets services providers > Section 4 - Provisions relating to the services referred to in Article L. 54-10-2 5° of the Monetary and Financial Code > Sub-section 1 -… … Article 722-22 … I. - When the services provider provides the service referred to in Article L. 54-10-2 5° b) of the Monetary and Financial Code, it shall take reasonable measures to ensure … by clients contains obvious inaccuracies. The services providers having a continuous relationship with the client … |
19 December 2019 | | Article 722-28 Book VII - Token Issuers and Digital Assets Services Providers > Title II - Digital Assets Services Providers > Chapter II - Specific provisions applicable to licensed digital assets services providers > Section 4 - Provisions relating to the services referred to in Article L. 54-10-2 5° of the Monetary and Financial Code > Sub-section 2 -… … Article 722-28 … I. -When the digital assets services provider provides the service referred to in Article L. 54-10-2 5° c) of the Monetary and Financial Code, it shall take reasonable measures to ensure … by clients contains obvious inaccuracies. The services providers having a continuous relationship with the client … |
16 December 2019 | AMF news release | The AMF publishes a review of its thematic inspections of the cybersecurity systems in place in asset management companies In accordance with its supervision priorities for the current year, the Autorité des Marchés Financiers reviewed the cybersecurity systems of five asset management companies. Based on its observations, it highlights the good practices noted. … that they sustain and by calling on specialised service providers to verify the robustness of their Information … the tested sample), inadequate internal supervision of the services (relating to IT, cybersecurity and business … responsible for ensuring that savings invested in financial products are protected and that investors are … |
13 December 2019 | News | Financial investment advisors: update of the policy with regards to suitability requirements The Autorité des Marchés Financiers (AMF) has updated its policy relating to financial investment advisors (FIA). … Financial investment advisors: update of the policy with … situation. … Alignment with the obligations of investment services providers … The conduct of business rules with which … |
14 November 2019 | Warning | The Autorité des Marchés Financiers (AMF) warns the public against the activities of certain websites offering to sell shares of La Française des Jeux without authorisation The AMF has observed keen interest from investors since the announcement of the privatisation of the La Française des Jeux lottery operator. At the same time, it has noted the appearance of several fraudulent websites offering to sell La Française des Jeux shares to investors without authorisation. The name of La Française des Jeux is likely to be… … To ensure that the intermediary offering banking or financial products or services is authorised to operate in France, you can view the list of authorised investment service providers (https://www.regafi.fr) or the list of authorised … |
08 November 2019 | Report / study | Key figures for asset management in 2018 - Profile of invesment management companies Since the improvement in asset inflows on the asset management market from 2013 through to the end of 2017, the workforce has increased by 19%, representing nearly 3,000 jobs created in five years. Despite a sluggish European economic environment, the French asset management industry is enjoying sustained growth, thanks in particular to the… … significant growth in the number of employees other than financial managers (4.8% compared with 0.9% for financial … Finally, public companies and investment service providers employ 5% and 3% of the total workforce … includes insurance and mutual companies, investment services providers (excluding credit institutions) and public … |
30 October 2019 | News | Provision of investment services: update of the policy The AMF has updated its policy on the provision of investment services. The objective is to update the references found in the policy documents and make the adjustments required by the update of the legislative and regulatory provisions following the transposition of MiFID II and the separation of the legal system applicable to asset management… … Provision of investment services: update of the policy … Update of the position on … as a position-recommandation under the first Markets in Financial Instruments Directive (MiFID I), this policy … of investment advice service. Some of the obligations of providers of this investment service, which were initially … |