31 January 2025 | News | End of life of private equity funds: the AMF amends its General Regulation and policy The AMF is amending its General Regulation and policy to incorporate certain proposals from its report on the work of the working group on the end of life of private equity funds (retail private equity investment funds, retail venture capital investment funds and retail local investment funds), with the aim of improving these funds’ compliance… … extend the life of a fund. … Warnings in promotional marketing materials … In its position-recommendation … DOC-2012-11, the AMF states that promotional marketing materials for private equity funds must mention … requires a warning to be included in the promotional marketing materials of the private equity fund if, over the … |
31 January 2025 | Policy | Instruction DOC-2011-22 - … fund4, requires AMF authorisation. Subject to the marketing procedure arising from Directive 2011/61/EU (for … authorised in accordance with Directive 2011/61/EU – Marketing procedure Where the retail private equity … 421-1 and 421-13 of the AMF General Regulation before marketing units in France to professional clients and retail … |
31 January 2025 | Policy | Position - Recommendation DOC-2012-11 - … on which the portfolio’s liquidation will be completed; - marketing materials are consistent with the information in … other documents used to market the fund (KIID, prospectus, marketing materials) do not suggest a shorter term. If there … a passport under the terms of Directive 2011/61/EU for the marketing of its units or shares in France or a marketing … |
29 January 2025 | News | Publication of the first study on the performance of unlisted financial asset funds aimed at non-professional clients BackgroundUnlisted financial asset funds, including private equity and private debt, but excluding real estate funds, were historically reserved for institutional investors and wealthy individuals. However, these funds are now being offered to a wider audience, including retail investors, often while highlighting their contribution to the real… … fund performance. … Special features to be mentioned when marketing … This study shows that the performance of unlisted … etc. Based on this information, the AMF stresses that the marketing pitch and materials used when marketing unlisted financial asset funds to non-professional … |
23 January 2025 | Article | Operating as a crowdfunding service provider in France In which cases can you apply to the AMF for authorisation to become a crowdfunding service provider? How do you obtain this authorisation? Have you been authorised as a crowdfunding service provider in another Member State of the European Union (EU) and would like to offer your services in France? Find all the useful information here. … DOC-2023-05 setting out its expectations regarding marketing communications disseminated in France. … Delegated … |
23 January 2025 | Enforcement Committee news releases | The AMF Enforcement Committee fines Pharnext and its former directors a total of €800,000 In its decision of 20 January 2025, the Enforcement Committee imposed a fine of €500,000 on Pharnext, and fines of €200,000 and €100,000 on its former directors, Daniel Cohen and David Horn Solomon, for having failed to disclose inside information as soon as possible, and for having disseminated false or misleading information. … to the US Food and Drug Administration (FDA) for marketing authorisation for a drug (drug candidate). The … design of the second clinical study planned to support a marketing authorisation application constituted inside … it emphasised that the market was anticipating the marketing of the drug candidate and was therefore attentive … |
20 January 2025 | Article | Our priorities for Action and Supervision Each year, the AMF publishes its action and supervisory priorities. Aiming to guide the action of the AMF throughout the year, these priorities reflect the requirements of the Institution which works daily to protect investors and the attractiveness of the Paris financial center thanks to quality control. … relating to investment services providers and the marketing of financial instruments … Involvement of the … channels offered to retail clients Supervision of ‘marketing’ ecosystem participants: investment services … |
17 January 2025 | AMF news release | The AMF publishes its action and supervisory priorities for 2025 Marie-Anne Barbat-Layani, Chairwoman of the Autorité des Marchés Financiers (AMF), presented the AMF’s main priorities for the coming twelve months to the press.These priorities reflect the AMF ‘IMPACT 2027’ strategic orientations for 2025. … infrastructures, as well as professional advisors and marketing funds. On the basis of its proposals, the regulator … for determining investor profiles; the supervision of ‘marketing’ ecosystem participants: investment services … |
16 January 2025 | Annual Report | AMF Supervisory Priorities for 2025 In this document, the AMF presents the supervisory themes for the year 2025 for professionals subject to its supervision. These priorities cover the following areas: asset management, the activities of intermediaries and market infrastructures, and the marketing of financial products. … of intermediaries and market infrastructures, and the marketing of financial products. AMF Supervisory Priorities … of intermediaries and market infrastructures, and the marketing of financial products. … AMF Supervisory Priorities … |
13 January 2025 | Warning | The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform On 7 October 2024, the Autorité des Marchés Financiers (AMF) added the www.livaxxen.com trading platform to its Forex blacklist. Despite this entry, the AMF continues to receive a large number of reports and complaints from retail investors about this fraudulent investment offering. … claim to be on the receiving end of aggressive direct marketing from pseudo-sales representatives followed by … |