20 April 2022 | AMF news release | The AMF Ombudsman publishes her 2021 Annual Report Marielle Cohen-Branche, Ombudsman of the Autorité des Marchés Financiers (AMF), has presented her latest annual report at a press conference. 2021 was a year characterised by an unprecedented number of requests and recommendations. Disputes related to "PEA" personal equity savings plans were the prime reason for case referrals, ahead of employee… … explain this increase. The intense work of the renewed mediation team made it possible to close an unprecedented … now close to 10,000 visits per month. The Diary analyses a mediation case each month, respecting the anonymity of the … … The AMF Ombudsman publishes her 2021 Annual Report … Mediation … Annual report … |
11 March 2022 | Ombudsman’s Blog | Not being able to subscribe to a fund does not necessarily imply a refusal to sell Some funds are strictly reserved for professional clients, and clients who do not meet the subscription conditions required by the fund cannot acquire units, even if they want to. It is this particular case that I will present to you in this month's issue. … response sent to him by the institution prior to the Mediation, Mr T. was right to think that the fact that he was … |
23 February 2022 | AMF news release | The AMF announces the creation of a working group on the end-of-life of private equity funds The Autorité des Marchés Financiers (AMF) is bringing together industry professionals to formulate proposals for adapting the regulatory framework to the difficulties encountered by management companies. … the sums invested at the maturity date (78 out of 170 mediation cases between 2017 and 2020 concerned private … |
09 February 2022 | Ombudsman’s Blog | IPOs: the loss may be more than just the non-execution of the subscription order When an IPO subscription order is not executed on account of an error acknowledged by the account keeper, the compensation for the loss suffered requires the parties to be placed in the situation in which they would have been if the error had not occurred, and also the investor's profile and usual behaviour to be taken into account, as we will see… … sheds light on how a loss can be assessed in an AMF mediation. As I have already had occasion to point out, [1] … behaviour to be taken into account, as we will see in this mediation case. [ 1 ] Misexecution of trade orders: when a … behaviour to be taken into account, as we will see in this mediation case. … IPOs: the loss may be more than just the … |
15 December 2021 | Ombudsman’s Blog | What are the obligations of the account keeper and its client when a securities transaction results in a debit cash balance? From time to time, investors fail to anticipate the effects of a securities transaction on their holdings correctly. However, with withholding tax, a securities transaction may lead to a debit balance that will have to be regularised by the investor.
In such a situation, the custody account-keeper has a role to play insofar as it is obliged to… … himself. At the same time, as we shall see in this mediation case, clients must remain attentive to the … himself. At the same time, as we shall see in this mediation case, clients must remain attentive to the … |
26 November 2021 | AMF news release | Marielle Cohen-Branche is reappointed as AMF Ombudsman for a three-year term After consultation with the Board and on appointment by AMF Chairman Robert Ophèle, Marielle Cohen-Branche started her fourth term as the AMF Ombudsman on 12 November. … 16 November 2011, as part of a move to reinforce the AMF's mediation role. Mediation had previously been the responsibility of the AMF … with her own team and budget to carry out her work. AMF mediation is a public service provided free of charge for the … |
22 November 2021 | Ombudsman’s Blog | A stock exchange order must be able to be cancelled or altered as long as it has not been executed It sometimes happens that investors do not benefit from the possibility of cancelling or altering their order submitted to the market, although there would still be time, for example during a phase of suspension of trading, to prevent it from being executed at a very different price from what was expected.
But what happens when a client wants… … a client, and which came to a satisfactory conclusion by mediation. A stock exchange order must be able to be … a client, and which came to a satisfactory conclusion by mediation. … A stock exchange order must be able to be … |
14 October 2021 | Ombudsman’s Blog | The underperformance of a mutual fund is not enough to characterise mismanagement Retail local investment funds (FIPs) are designed to support the development of regional SMEs. They are retail private equity investments with a regulatory life span of generally 8 to 10 years, during which period redemption is only allowed in specific situations. It may happen that at the end of the life of the retail local investment fund, the… … me by the parties. In the absence of sufficient evidence, mediation cases that challenge fund management solely on the … is unsatisfactory. I regularly receive requests for mediation concerning disputes based on this issue. This mediation case serves as a good illustration of this issue. … |
15 June 2021 | Annual Report | AMF Ombudsman Annual Report 2020 The AMF Ombudsman has disclosed its Annual Report. In 2020, the activity was marked by the health crisis. The requests for mediation strongly increased. The Ombudsman has delivered 505 opinions and the 47% of unfavourable opinions were disputed by only 4% of investors. Employee savings schemes and PEAs are still top the list of grounds for… … activity was marked by the health crisis. The requests for mediation strongly increased. The Ombudsman has delivered 505 … activity was marked by the health crisis. The requests for mediation strongly increased. The Ombudsman has delivered 505 … management companies … AMF Ombudsman Annual Report 2020 … Mediation … Annual report … |
31 May 2021 | Article | Investor protection The AMF assists retail investors in their dealings in financial markets through innovative outreach initiatives. … out of court with the intervention of the AMF Ombudsman (mediation) See our job offers … |