28 November 2017 | News | AMF Scientific Advisory Board meets to discuss the shareholdings of French households Research presented at the Scientific Advisory Board meeting of 10 October 2017 focused on the core issue of retail investors' shareholdings. … (two of which she co-authored) that use responses to MiFID ‘know your customer’ (KYC) questionnaires to assess how … by Marie-Hélène Broihanne (University of Strasbourg): “MiFID questionnaire answers: stock market participation, … (two of which she co-authored) that use responses to MiFID ‘know your customer’ (KYC) questionnaires. The first … |
28 November 2017 | News | The future of post-trading in the EU: The AMF publishes its priorities The Autorité des Marchés Financiers (AMF) responded to the European Commission's consultation on post-trading in the Capital Markets Union (CMU). In this response, the AMF shares the Commisson's analysis on future challenges of post-trading in Europe (competitiveness of European actors vis-à-vis global competitors, development of new technologies,… … dismantled thanks to European initiatives (CSDR, EMIR, MiFID and T2S). However, other barriers have not yet been … |
20 November 2017 | Public statements | AMF Annual Conference 2017 - 'The evolution of the financial services regulation in a post-brexit Europe' - Speech by Robert Ophèle, Chairman of the Autorité des marches financiers – 13 November 2017 … and Solvency 2, in the field of financial markets, MIFID 2, PRIIPS, MMFR - to name only a few of the most … drifts - has entered a stage of extreme luxury of details. MIFID 2 is made up of about fifty Level 1 and 2 directives … we look at the history of many of the regulations, taking MiFID II as an example, much of it has copied our own … |
15 November 2017 | News | Impacts of MiFID II: the AMF publishes a guide for financial investment advisors (FIAs) The new European directive on markets in financial instruments (MiFID II) will enter into force on 3 January 2018. As such, FIAs will be subject to a national regulatory regime that incorporates rules analogous to those in MiFID II. In other words, the MiFID II rules will not apply directly to FIAs but will be implemented in a national regulatory… … Impacts of MiFID II: the AMF publishes a guide for financial investment … advisors (FIAs) … Key dates for transposition of MiFID II into the FIA regime … Directive 2014/65/EU of 15 May … 2014 on markets in financial instruments, better known as MiFID II, was transposed into French law with the ordinance … |
02 November 2017 | AMF news release | The AMF consults on changes to its General Regulation in preparation for MiFID II The AMF is holding a public consultation on changes to Books III and V of its General Regulation, which deal with investment services providers and market infrastructures respectively. This marks the final stage before implementation of the new framework for markets in financial instruments on 3 January 2018. … on changes to its General Regulation in preparation for MiFID II … Comprising a directive (MiFID II), a regulation (MiFIR), a delegated directive and … containing implementation rules procedures, the new MiFID II regulatory framework for markets in financial … |
27 October 2017 | News | Regulatory news and key issues, Autumn 2017 With the summer season behind us, Xavier Parain, head of asset management, reviews the latest regulatory developments and key issues for the coming period. He gives a progress update on the steps taken so far and looks at the big deadlines in the months ahead for the MiFID 2 reforms to the Markets in Financial Instruments framework, packaged… … come into effect on 3 January 2018: what to expect from MiFID 2 and PRIIPs? … MiFID 2: … The reformed Markets in Financial Instruments Directive (MiFID 2) strengthens the existing regime as regards … |
26 October 2017 | Report / study | Key figures for asset management in 2016 - Management company financial data and profitability After rising for three years in a row, the operating profit of the French asset management market fell slightly in 2016 to EUR 2.845 billion from EUR 3.096 billion in 2015. This decline was due both to an increase in operating expenses (up 1.3% year on year) and a decrease in operating revenue (down 0.8% year on year). The sector remains… … of inducement rules with the entry into force of MiFID II in early 2018. Incidental revenue makes up an … adapt to the stronger rules on inducements introduced in MiFID II. Although operating expenses have kept the same distribution framework, the entry into force of MiFID II will unquestionably have an impact on management … |
17 October 2017 | AMF news release | The Autorité des marchés financiers appoints Frédéric Pelèse Deputy Executive Director of the Regulatory Policy and International Affairs Directorate (DRAI) Frédéric Pelèse, who had been seconded to the European Commission since 2014, returns to the AMF on 16 October 2017 as Deputy Executive Director of the DRAI. He will assist Natasha Cazenave, Managing Director of the DRAI, with all her responsibilities. … Regulation, the development of the Level 2 measures of MiFID II, as well as the review of the Short Selling … |
11 October 2017 | Report / study | Key figures for asset management in 2016 - Management company assets Assets managed by the French asset management industry increased further (6.2%) in 2016, in both investment management and discretionary management. Gross assets under management thus amounted to EUR 3.673 trillion. This growth warrants a closer look, however, based on the different asset classes and the economic climate. This report presents an… … repricing risk, and the pending entry into force of the MiFID II directive held back growth in assets for equity … |
25 September 2017 | News | AMF publishes summary of the public consultation on corporate finance advice Following a consultation in January and February, the AMF presents the responses it received and its suggestions for the activity of corporate finance advice. … no. 3 in the Markets in Financial Instruments Directive (MiFID), which can currently be freely performed at EU and … |