18 January 2021 | Policy | Position - Recommendation DOC-2019-15 … to combating money laundering and terrorist financing … Investment services providers Anti-money Laundering Policy … … or divestments made on the assets of the funds or of the individual portfolios: this is asset due diligence (2). 1. … of a collective investment or discretionary management mandate, the asset management company shall assess the risk … |
28 December 2020 | Enforcement Committee news releases | The AMF Enforcement Committee fines a management company and its chairman for breaches of their professional obligations In its decision of 18 December 2020, the Enforcement Committee issued a warning to a management company in compulsory liquidation and its chairman for breaching several of their professional obligations. … €91 million of assets on behalf of four alternative investment funds and 11 UCITS, as well as €54 million in … representing some 500 client accounts under its management mandate activity. The Enforcement Committee first found … management company in the supervision and control of its individual management mandate process. It established that … |
30 April 2020 | News | Discretionary management: the AMF assesses the quality of the information provided to clients within the framework of its SPOT inspections The Autorité des Marchés Financiers is publishing its review of a series of SPOT inspections (“Supervision des Pratiques Opérationnelle et Thématique”) focusing on discretionary management. The purpose of these inspections was to examine practices since the entry into force of the new European regulatory framework for Markets in Financial… … series of short thematic inspections, the AMF chose five investment services providers, targeting exclusively credit … management statements by including comments on the individual management of the portfolio. The AMF also noted a … have already made modifications to their management mandate and client questionnaire templates, taking account of … |
30 April 2020 | Spot Inspections | Summary of SPOT inspections on compliance with the new mifid 2 provisions on portfolio management for third parties As announced in the AMF’s supervision priorities for 2019, a series of short thematic “SPOT”inspections relating to portfolio management for third parties (“portfolio management”) was carried out in 2019. These inspections were conducted as part of the new provisions introduced by Directive 2014/65/EU of 15 May 2014 on markets in financial… … April 2016. The SPOT inspections involved a sample of five investment services providers (“ISPs”) targeting exclusively … 2 provisions on portfolio management for third parties … Individual investment mandate … MIFID … |
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 … … Provision of investment services: update of the policy … Individual investment mandate … Regulatory developments … |
06 September 2019 | Policy | Position - Recommendation DOC-2018-02 Position-recommendation DOC-2018-02 aims to clarify the AMF's expectations on the marketing of crowdfunding offers, calculation of default rates and run-off management of platforms. In particular, it specifies the best practice for securities and minibons crowdfunding in relation to providing information that is balanced, clear, accurate and not… … of default rates and run-off management of platforms … Investment services providers Other professionals Marketing … may be further amended and depends on each client’s individual situation. Position Regardless of whether the … the project leaders’ payment account (SEPA direct debit mandate), whilst anticipating events that are likely to occur … End of applicability on 10 November 2023 |
21 May 2019 | Spot Inspections | Summary of SPOT inspections on portfolio management As part of its new #Supervision2022 strategy, the Autorité des marchés financiers is carrying out briefer and more thematic "SPOT" inspections (Supervision des Pratiques Opérationnelle et Thématique). Today the AMF publishes a summary of the SPOT inspections carried out in 2018 on portfolio management, on the themes of compliance of discretionary… … inspections on portfolio management … Spot Inspections … Investment management companies … Summary of SPOT inspections on portfolio management … Individual investment mandate … Supervision … Asset management … |
21 May 2019 | AMF news release | The AMF publishes a summary of its thematic review of portfolio management practices In 2018, the Autorité des Marchés Financiers (AMF) carried out two rounds of five thematic inspections of investment service providers, other than asset management firms (9 credit institutions and 1 investment firm authorised to manage portfolios on behalf of third parties). On the basis of its observations, it has prepared a list of good and poor… … such discretionary mandates regarding: the purpose of the mandate, management objectives, authorised financial … implementing an appropriate fund selection policy for the investment universe. Apply no entry fees for collective … of its thematic review of portfolio management practices … Individual investment mandate … |
01 February 2019 | AMF news release | ESMA and EU securities regulators including the Autorité des marchés financiers agree no-deal Brexit MoUs with FCA The European Securities and Markets Authority (ESMA) and European securities regulators have agreed Memoranda of Understanding (MoUs) with the Financial Conduct Authority (FCA) of the United Kingdom (UK). The MoUs form part of authorities' preparations should the UK leave the EU without a withdrawal agreement, the no-deal Brexit scenario. The MoUs… … ESMA to continue to discharge its mission and meet its mandate regarding investor protection, orderly markets and … cooperation, enforcement and information exchange between individual regulators and the FCA, and will allow them to … relating to, amongst others, market surveillance, investment services and asset management activities. This, in … |
23 October 2018 | News | Asset management: some reminders ahead of the 2018 post-summer holiday period Money market funds, securitisation: management companies need to prepare for new regulatory deadlines in the coming months. At the same time, the AMF intends to continue its support initiatives relating to the new markets in financial instruments framework, MiFID II. Overview of the main texts to watch out for, with Xavier Parain, deputy Secretary… … on the requirements for suitability assessments for investment advisory services and management under mandate, providing important clarifications for market … of switching investments centrally, and not for each individual client. The translation of these guidelines into … |