21 March 2022 | Policy | Position - Recommendation DOC-2014-06 The AMF recommendation DOC-2014-06 details the expectations of the AMF for the operation and organisation of compliance, risk management, internal monitoring and periodic control functions within asset management companies (AMCs). This guide specifies, notably, how different control functions should be structured and is aimed at AMCs that manage…… of a predefined trigger occurring, as specified in the prospectus for the said debt securities. 7 See Articles … of a predefined trigger occurring, as specified in the prospectus for the said debt securities. 8 Financial indices … or written down in the event of a trigger specified in the prospectus for the said debt securities. 10 Financial indices … |
21 March 2022 | Policy | Instruction DOC-2012-01 Collective investment undertaking management activities and discretionary portfolio management investment services are subject to specific risk management organisation rules (counterparty, liquidity and market risks and operational risk). The instruction DOC-2012-01 defines the permanent risk management function, the procedures for delegation to…… of a predefined trigger occurring, as specified in the prospectus for the said debt securities. 7 Financial indices … of a predefined trigger occurring, as specified in the prospectus for the said debt securities. 6 For those persons … of a predefined trigger occurring, as specified in the prospectus for the said debt securities. 7 Financial indices … |
17 March 2022 |
| Article 212-43 Book II - Issuers and financial disclosure > Title I - Admission of financial securities to trading on a regulated market and offer of securities to the public > Chapter II bis - Summary information to be disseminated in the case of an offer to the public not subject to a prospectus approved by the AMF… set out in Article 325-48 and which are not subject to a prospectus approved by the AMF, the issuer shall provide, via … set out in Article 325-48 and which are not subject to a prospectus approved by the AMF, the issuer shall provide, via … in the case of an offer to the public not subject to a prospectus approved by the AMF … 212-43 … General regulation … |
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.… under the heading "Relevant subscribers" as defined in the prospectus and the subscription form are authorised to … was indeed a professional investment fund and that the prospectus expressly stated that the fund was not open to … to carefully examine not only the KIID, but also the prospectus of the funds in which they are interested, as … |
08 February 2022 | AMF news release | The AMF proposes measures to promote a wider adoption of liquidity management tools by fund managers Liquidity management tools protect the interests of investors and ensure they are treated fairly. The Autorité des Marchés Financiers is launching a public consultation on measures to encourage the adoption of such tools. These measures may lead to changes in the AMF’s General Regulation and policy.… available, without the need to include them in the fund prospectus. This is the case, for example, of the possibility … only be implemented if they are specified in the fund’s prospectus. This is also the case for the ability to cap and … management tools by fund managers … Asset management … Prospectus … |
03 February 2022 | AMF news release | The AMF proposes targeted measures to make financial markets more attractive for companies The AMF supports the European Commission’s objectives to make public capital markets more attractive for EU Companies and facilitate access to capital for SMEs by simplifying the listing process with targeted adjustments.… is robust and that an overhaul of key regulations such as Prospectus and the Market Abuse Regulation (MAR) would be … recent reforms and other ongoing initiatives. Although a prospectus represents a cost to the issuer, it also brings … AMF recommends removing the obligation to draw up an EU Prospectus in the case of a public offering of securities by … |
03 February 2022 | AMF’s EU positions | AMF's response to the European Commission targeted consultation "Listing Act" This position paper outlines the AMF's response to the European Commission's targeted consultation on the "Listing Act". The AMF supports the objective of the European Commission to make public capital markets more attractive for EU companies and to facilitate access to capital for SMEs. The AMF proposes targeted adjustements in the regulatory…… consultation "Listing Act" … Europe & international … Prospectus … MAR … SMEs … MIFID … |
02 February 2022 | News | The AMF updates its policy on the marketing communications of collective investments Following the application of ESMA’s Guidelines on marketing communications, the AMF is updating its Position-Recommendation DOC-2011-24 on the drafting of marketing materials and the marketing of collective investment undertakings in order to harmonise its policy for investment management companies and distributors.… presence in marketing communications of a warning when the prospectus of the collective investment is not translated … |
21 December 2021 | Public statements | Speech by Benoît de Juvigny, AMF Secretary General - IOSCO SPAC Network Stakeholder Meeting - 16 December 2021 … to specific disclosures that are expected under the Prospectus Regulation, to improve the comprehensibility and … for the combined company. On the disclosure side, the Prospectus Regulation can be seen as fit for purpose as it … disclosure aspects were properly addressed within the Prospectus Regulation framework. The AMF was particularly … |
09 December 2021 | Policy | Position DOC-2010-05 … to the AMF before being disseminated17, even if the prospectus has already been passported18. The same applies to … 17 Article 212-28 of the AMF General Regulation. 18 The prospectus approved by the home country authority is valid … Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the … |
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02