29 October 2021 | AMF news release | Investment recommendations on social media: the AMF backs ESMA's reminder The European Securities and Markets Authority (ESMA) emphasises that persons making investment recommendations must present them in an objective and transparent way and disclose their identity. The AMF urges investors to question the credibility of opinions shared online and to base their investment decisions on reliable information. … Investment recommendations on social media: the AMF backs … ESMA sets out the rules applying to persons who spread investment recommendations aimed at a broad audience, … in the European Union (EU), for example, constitutes an investment recommendation under EU law, according to the … backs ESMA's reminder … Savings protection … Investment advice … |
19 October 2021 | Spot Inspections | Summary of SPOT inspections on governance of financial instruments As announced in the 2020 supervision priorities of the Autorité des Marchés Financiers (hereinafter "the AMF"), a series of short thematic “SPOT” inspections relating to governance of financial instruments were carried out during the period from October 2020 to February 2021. These inspections took place in line with the provisions of Directive… … the period 2018-2020 and concerned a sample group of five investment service providers (hereinafter "ISPs"), targeting … to a group and authorised to provide the service of investment advice. Summary of SPOT inspections on governance of … |
05 October 2021 | AMF news release | AMF position to encourage retail participation in EU capital markets In-line with the AMF’s response to the consultation of the European Commission on a retail investment strategy, the regulator outlines its recommendations to meet retail investors’ needs. The main objectives is to empower them with adequate knowledge, information and advice, while ensuring investor protection for safe cross-border investments… … is a key priority. A review of the EU framework for retail investment should aim at breaking barriers to cross-border investments and providing long-term investment options to European households, while making sure that they have access to good quality advice and strong investor protection. The existing European … |
05 October 2021 | AMF’s EU positions | Retail investors: Make targeted adjustments to the European framework to improve their access to capital markets The AMF publishes its position to encourage retail participation in EU capital markets. In the context of the Capital Markets Union project, and in line with the AMF’s response to the consultation of the European Commission on a retail investment strategy, the regulator outlines its recommendations to meet retail investors’ needs. The main… … to the consultation of the European Commission on a retail investment strategy, the regulator outlines its … to empower them with adequate knowledge, information and advice, while ensuring investor protection for safe … to the consultation of the European Commission on a retail investment strategy, the regulator outlines its … |
02 August 2021 | Article | Operate in France Are you a European investment management company wishing to manage French UCITS or AIFs or open a branch in France? Are you already doing business in France and would like to know how much your annual contribution to the AMF would be? You will find all the information you need here. … passport overview … The incoming passport is required by investment management companies from another Member State of … the same conditions, you may also provide, in France, investment services such as investment advice, portfolio management or, if you are authorised under … |
02 August 2021 | Policy | Position - Recommendation DOC-2014-04 Position DOC-2014-04 provides explanations on the definition of marketing in France of units or shares of UCITS and AIFs, and describes the various regimes applicable to marketing of such entities in France. … Guide to UCITS, AIF and other investment fund marketing regimes in France … Investment management companies UCIT AIFMD Policy Position … by different means (advertising, direct marketing, advice…) with a view to encouraging an investor to subscribe … |
24 June 2021 | Warning | The AMF warns the public against Sinclair Upton Capital Management After receiving several complaints from investors, the Autorité des Marchés Financiers (AMF) is warning the public about the activities of Sinclair Upton Capital Management, a company that is offering unauthorised discretionary portfolio management services and financial investment advice in France on its website https://www.sucm.com. … individuals in France to offer them its financial investment advice and discretionary portfolio management services. … to offer investors these services in France, or any other investment service, for that matter. The investors who … |
01 June 2021 | Public statements | Speech by Robert Ophèle, AMF Chairman - FESE – Convention 2021 - 1st June 2021 … sector has a key role to play notably by favouring investment in both sustainable activities and the transition … the new delegated acts concerning product governance and investment advice one could be in some doubt as to whether the average … |
19 May 2021 | AMF news release | The AMF Ombudsman publishes her 2020 annual report Marielle Cohen-Branche, Ombudsman of the Autorité des Marchés Financiers (AMF), has presented her annual report for the past year at a press conference. With the health crisis and market turmoil, the Ombudsman's office has been very active in responding to a sharp increase in requests. The surge of new retail investors on equity markets was… … (up 12%); 294 companies were concerned (79% of them were investment service providers), compared with 250 in 2019. The … of a lack of knowledge of the basic rules of equity investment, sometimes because of a lack of sufficiently clear … Disputes relating to poor execution, information or advice accounted for 90% of the cases processed. In her … |
15 April 2021 | AMF news release | The AMF identifies five areas requiring in-depth review to enable financial markets to finance economic recovery On the occasion of the publication of its annual report, AMF Chairman Robert Ophèle highlights the regulator’s strong engagement throughout the coronavirus epidemic and the lessons to be learnt from this period, as well as the unprecedented situations experienced in 2020, to enable financial markets to contribute fully to the financing of the… … to listed companies, asset management companies and investment service providers, while protecting investors in … pricing. It must also be accompanied by good-quality advice when advice is given. It is with this in mind that … of a first doctrine on the marketing of collective investment products incorporating non-financial approaches to … |