10 August 2026 | Annual Report | 2025 AMF Annual Report The 2025 annual report presents the actions taken by the AMF in line with its strategic priorities, including: creating the conditions for an increasingly safe and resilient financial center, fostering the development of European capital markets and the attractiveness of the Paris financial center, and providing an environment conducive to… … services to European retail investors, as set out in the MiFID II Directive on financial markets and the PRIIPs … subject to the investor protection requirement under MiFID II, including those relating to target market … a credit institution. As part of the exemp-tions from the MiFID II, MiFIR and CSDR requirements permitted by the Pilot … |
04 August 2026 | News | Advice on crypto-assets: the AMF updates its doctrine in relation to FIAs With the entry into application of the MiCA Regulation and the end of its transitional period, the provision of the service of advice on crypto-assets is now subject to specific authorisation and compliance with the rules laid down at European level. In its doctrine, the Autorité des Marchés Financiers (AMF) specifies the situations in which a… … is broader under MiCA than that of investment advice under MiFID II, which covers transactions in financial instruments. … is broader under MiCA than that of investment advice under MiFID II, which covers transactions in financial instruments. … is broader under MiCA than that of investment advice under MiFID II, which covers transactions in financial instruments. … |
29 July 2026 | Report / study | Evolution of trading at the close on the French equity market European equity markets, and the French market in particular, have experienced a marked increase in the share of trading executed at the close over recent years. In 2019, the AMF published a study highlighting the growing importance of the Euronext Paris closing auction, which already accounted for 41% of turnover in CAC 40 equities in June 2019… … of this type of participant observed by the AMF prior to MiFID II25. By contrast, banks are by far the dominant … |
23 July 2026 | Policy | Instruction DOC-2008-03 - … third parties) will be subject to Directive 2004/39/EC (“MiFID”). When providing the service of portfolio management … third parties) will be subject to Directive 2004/39/EC (“MiFID”). When providing the service of portfolio management … third parties) will be subject to Directive 2004/39/EC (“MiFID”). When providing the service of portfolio management … |
16 July 2026 | News | Mystery shopping visits to bank branches: the AMF calls on professionals to improve the quality of client questioning and the presentation of fees The new risk-averse/risk-loving mystery shopping visit campaign carried out by the Autorité des Marchés Financiers (AMF) between September 2025 and February 2026 among banking institution advisors has revealed that the quality of the questions asked of prospects is insufficient and has deteriorated compared to the two previous campaigns, and that… … with the Markets in Financial Instruments Directive (MiFID II), which aims to enhance investor protection. … onboarding was formalised and the obligations arising from MiFID II were fully applicable, the practices observed were … with the Markets in Financial Instruments Directive (MiFID II), which aims to enhance investor protection. … |
16 July 2026 | Household Savings Newsletter | AMF Household Savings Newsletter - No. 66 - July 2026 The Letter sets out the key findings of the risk-averse/risk-loving mystery shopping campaign carried out by the AMF in bank branches in 2025. The results are down on those of the previous campaign, but remain better in terms of product sales, although they do not fully comply with the requirements. The campaign also examined savers’ purchasing… … banks, eight years after the entry into force of the MiFID II Regulation and three years after the previous … in the provision of regulatory documents Under the MiFID II Regulation clients must be asked in- depth questions … research and analysis. 2 Only advice as defined by the MiFID II Regulation was examined during these mystery … |
16 July 2026 | Report / study | Results of the 2025 risk-averse and risk-loving mystery shopping campaigns In 2025, the AMF carried out a campaign of mystery visits to bank branches, targeting both risk-averse and risk-loving customers, in collaboration with the market research organisation IPSOS. These mystery visits were designed to assess the sales practices of banking institutions in light of MiFID II regulations. … the sales practices of banking institutions in light of MiFID II regulations. Results of the 2025 risk-averse and … the sales practices of banking institutions in light of MiFID II regulations. Results of the 2025 risk-averse and … the sales practices of banking institutions in light of MiFID II regulations. Results of the 2025 risk-averse and … |
16 July 2026 | Report / study | Market-based financing in Paris, 2007-2025 Given the growing financing needs of the European economy, particularly in the areas of the green, digital and defence transitions , the development of capital markets is emerging as a key issue for Europe’s competitiveness and the strengthening of its strategic autonomy. Against this backdrop, the AMF has published a study on market-based… … (EEA), provided they comply with the requirements of the MiFID Directive. In fact, of the fourteen foreign SIICs … |
15 July 2026 | Report / study | The influence of social media on retail investor trading in CAC 40 stocks The AMF has published a study on the behaviour of retail investors towards CAC 40 stocks in the age of social media. … it is designated as the competent authority. Indeed, the MiFID Directive17 confers competency on national authorities … with jurisdiction over the traded security. RTS 22 of MiFID 218 requires investment firms to identify natural … 2002/92/EC and Directive 2011/61/EU. 18 Supplements to MiFID Regulation (EU) No 600/2014 of the European Parliament … |
09 July 2026 | Report / study | Summary of the findings of the Autorité des Marchés Financiers anti-money laundering and combating the financing of terrorism inspections (AML/CFT) that gave rise to follow-up action between 1 January 2022 and 31 December 2025 The purpose of this summary is to present the inspections carried out by the Autorité des Marchés Financiers and their follow-up in the area of anti-money laundering and combating the financing of terrorism, and in combating tax evasion and fraud, involving asset management companies and financial investment advisors. It sums up the main lessons… … (‘AIFM DR’) ; - Delegated Regulation (EU) No 2017/565 (‘MiFID II DR’) ; - the MFC; - the General Tax Code (‘CGI’, in … 321-143 and 321-147 of the AMF GR; FIAs: 22 1) of the MiFID II DR, by reference to Article 325-22, Articles … KYC Know your customer MFC Monetary and Financial Code MiFID II DR Delegated Regulation (EU) 2017/565 ML/FT Money … |
