12 May 2025 | Report / study | Real estate investments: perception of risk and liquidity - May 2025 This study tested investors' understanding of the risk and liquidity of different forms of real estate investment (collective invesments, investment in the context of participative financing), based on their reading of information documents. … with OCPI (real estate investment funds documents: KID and prospectus. Understanding of and focus on information about … OPCI liquidity OPCI liquidity5 28 OPCI-focussed exercises: Prospectus If you request the redemption (reimbursement) of … up to two (2) months, under the conditions set out in the Prospectus. In the event of exceptional circumstances leading … |
12 May 2025 | Household Savings Newsletter | AMF Household Savings Newsletter - No.61 - May 2025 As it does every year, the AMF takes stock of fee trends for financial investments, both for direct investments in individual equities (posted fees as of January 2025) and for collective investments (average annual fees applied in 2024). For equity and diversified funds, the trend is downwards.The Letter also features a focus on investors'… … "cap on redemptions", which had not been noticed in the prospectus, led to a feeling of uncertainty and even … document (SCPI, OPCI), information notice (SCPI) or prospectus (OPCI), key investor information sheet (KIIS) for … |
22 April 2025 | News | Fees: the AMF updates its doctrine following the announcement of the abolition of transaction fees in situations of discretionary management Following the announced an amendment to its General Regulation extending the ban on transaction fees to the service of portfolio management on behalf of third parties (discretionary management), the Autorité des Marchés Financiers (AMF) has updated its doctrine to clarify how this ban will be implemented. … lorsque le placement fait l’objet de la publication d’un prospectus en vertu du règlement (UE) 2017/1129 du Parlement … 2017, l’AMF considère que la diffusion par l’émetteur du prospectus afférent à l’opération répond à l’obligation de … professionnels. 2.2.3 En synthèse : Existence ou non d’un prospectus Services d’investissement Clients non … |
22 April 2025 | Policy | Position - Recommendation DOC-2013-10 - Inducements and fees received in connection with the distribution and discretionary management of financial instruments Position-Recommendation DOC-2013-10 clarifies the application of the regime governing inducements and fees received in connection with the distribution and discretionary management of financial instruments. … where the placement is the subject of the publication of a prospectus pursuant to Regulation (EU) 2017/1129 of the … 2017, the AMF considers that the issuer disseminating the prospectus relating to the transaction must satisfy the … clients. 2.2.3 In summary: Whether or not there is a prospectus Investment services Retail clients Professional … |
19 February 2025 | | Management companies Are you a European investment management company wishing to manage French UCITS or AIFs or open a branch in France? Are you a French or foreign investment management company wishing to market UCITS or AIFs in France? The AMF's teams will help you and you will find the information you need in this section. … well as the investors’ information documents, such as the prospectus. These ratios, which must be complied with at all … |
19 February 2025 | AMF news release | The AMF publishes the findings of its thematic inspections of asset management companies’ monitoring of fund investment ratios, compensation and claims This new ‘SPOT’ summary focused on the ratios that define the investment rules and asset mix, as stipulated by provisions of the law, or the internal or contractual rules of UCITS and AIFs, as well as the investors’ information documents, such as the prospectus. These ratios, which must be complied with at all times, may be financial or non… … well as the investors’ information documents, such as the prospectus. These ratios, which must be complied with at all … well as the investors’ information documents, such as the prospectus. These ratios, which must be complied with at all … |
19 February 2025 | Spot Inspections | Summary of SPOT inspections on the monitoring of funds (UCITS, AIF) investment ratios, and of related compensation and claims An investment ratio is a limit that a portfolio asset management company (AMC) is obliged not to exceed when managing a fund, and to correct as quickly as possible if it is nevertheless exceeded. An investment ratio, which is set out in the rules or contractual documentation, must be complied with at all times. It may be financial or non-financial… … intended to provide information to investors, such as the prospectus. The terms ‘limits’ or ‘rules’ may also be used in … non-financial ratios, which may be imposed by the rules, prospectus or a label (e.g.: SRI), such as the obligation to … the group), a review of the ratios exceeded (and of the prospectus changes envisaged34) is carried out at the … |
11 February 2025 | Policy | Instruction DOC-2019-21 - … Modalités de dépôt et de publication des prospectus … Listed companies and issuers Periodic & ongoing … and issuers … Modalités de dépôt et de publication des prospectus … Periodic & ongoing disclosures … |
05 February 2025 | AMF news release | The AMF approves its first bond prospectus for European green bonds under the ‘EuGB’ standard The AMF has approved a prospectus of Île-de-France Mobilités, enabling the first admission to trading on Euronext Paris of European green bonds under the EuGB standard and governed by French law. This issuance complies with the stipulations of the new European regulation which require the bond proceeds to be allocated to finance sustainable… … The AMF approves its first bond prospectus for European green bonds under the ‘EuGB’ standard … proceeds than a traditional green bond. This is the first prospectus approved for the admission to trading on Euronext … de la communication +33 (0)1 53 45 60 28 … Read more … Prospectus of Île-de-France Mobilités for European green … |
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… … d’information clé pour l’investisseur (DICI) et du prospectus comprenant le règlement et le cas échéant, les … centrale à celle de communication réduite ou limitée au prospectus, passage de la catégorie de communication réduite à celle limitée au prospectus) ; - Réduction de plus de 10% en relatif combinée … |