04 May 2022 | Enforcement Committee news releases | The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations In its decision of 26 April 2022, the Enforcement Committee issued a reprimand and imposed a fine of €150,000 on Auvergne Investissement Hôtels. It also banned its chairman, Serge Emery, from exercising the activity of financial investment advisor for a period of five years and fined him €50,000.… The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their … its clients subscribe to shares of two German alternative investment funds (AIF) that were not authorised for marketing … obligations … Sanctions & settlements … Investment advice … |
04 May 2022 | AMF news release | The AMF launches a consultation on the integration of sustainability requirements into its General Regulation Following the adoption by the European Commission of a comprehensive package of measures to reorient capital flows towards sustainable activities across the European Union, the AMF has launched a consultation on the integration of sustainability obligations into its General Regulation.… include four Delegated Acts on fiduciary duties and investment advice, published in August 2021, aiming to ensure that investment services providers (ISPs), UCITS management … |
28 April 2022 | AMF news release | Appointments in the Investigations Directorate and the Asset Management Directorate Marianick Darnis Lorca, hitherto Deputy Head of the Investigations Directorate, has been appointed Head of Investigations. She takes over from Laurent Combourieu, who recently took charge of the AMF's activities relating to Chief Compliance and Internal Control Officers (RCCI) and Chief Investment Services Compliance Officers (RCSI).… external growth and refinancing transactions and provided advice to listed companies on stock exchange law and … of Chief Compliance and Internal Control Officer and Chief Investment Services Compliance Officer activities within the … Chief Compliance and Internal Control Officers and Chief Investment Services Compliance Officers are the AMF's primary … |
28 March 2022 | Warning | The AMF warns the public against fraudulent offers to buy listed shares at preferential prices In response to a large number of reports from retail investors, the Autorité des Marchés Financiers (AMF) is calling for the utmost vigilance with regard to offers to invest in the securities of listed large companies, whether foreign or French, at a price below their official price, by unauthorised actors or those impersonating regulated entities.… the form of "savings accounts". Retail investors receive investment proposals, for example, in a "GAFA savings account … requests from retail investors concerning this type of investment proposal and more than a hundred complaints and … €55,000. The AMF reminds retail investors that investment advice and the subscription of shares on behalf of clients … |
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…… risk management system within asset management companies … Investment management companies Organisational rules Policy … regulations that transpose MiFID II and legally separate investment firms from asset management companies. The update … function that has two key roles: - assistance and advice to operational units and executive management on one … |
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 discretionary portfolio management investment services … Investment management companies … ensure compliance with the risk limit system; c) provide advice to the board of directors as regards the … |
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.… … The Committee upheld two series of breaches against this investment management company authorised to provide … Committee first established that the company was receiving advice from third party companies for the management of some … of traceability of a fund manager's own analysis following investment advice received from a third company is not … |
22 December 2021 | Public statements | Speech by Robert Ophèle, AMF Chairman – AMF Annual Conference: "Financing, green transition: the role of financial markets in the recovery" – Tuesday 30 November 2021 … policy and low risk-free returns on liquid savings, investment opportunities in the stock market were all the … to younger investors, who act without professional advice but often based on discussions on social media; a … development at a time when our economies have considerable investment needs, it is important that these new investors … |
09 December 2021 | Policy | Position DOC-2010-05 … of complex financial instruments … Other professionals Investment services providers Marketing Policy … Textes de … cannot easily understand, the AMF reminds professionals (investment services providers, financial investment advisers … and regulatory obligations with regard to disclosure and advice. The AMF position: - underlines the responsibility of … |
06 December 2021 | Enforcement Committee news releases | The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations In its decision of 30 November 2021, the Enforcement Committee imposed a fine of €25,000 as well as a permanent ban on practising as a financial investment advisor on each of the respondents, Acadian Advisors & Associates and its manager at the time of the events, Didier Hoffelt.… The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their … (Acadian), as part of its business as a financial investment advisor, marketed securities of companies of the … body and, where appropriate, decide to provide investment advice. It therefore dismissed this alleged breach, but found … |
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02