21 May 2026 | Policy | Position DOC-2018-05 - Requirements under the european money fund regulation AMF Position DOC-2018-05 includes the ESMA guidelines for stress test scenarios on money market funds. … at least every year taking into account the latest market developments. Section 4.8 of the ESMA guidelines states that … for UCITS and AIFs. Incorporation within the AMF's regulatory practices This position, which incorporates the … for UCITS and AIFs. Incorporation within the AMF's regulatory practices These guidelines are available in the … |
19 May 2026 | News | Liquidity Management Tools: the AMF intends to comply with ESMA’s Guidelines The Autorité des Marchés Financiers (AMF) intends to apply the European Securities and Markets Authority’s (ESMA) guidelines on liquidity management tools for UCITS (undertakings for collective investment in transferable securities) and open-ended AIFs (alternative investment funds) as soon as the work to transpose the AIFM 2 Directive has been… … and to mitigate risks to financial stability. The national regulatory framework will be updated to take account of these … and to mitigate risks to financial stability. The national regulatory framework will be updated to take account of these … and to mitigate risks to financial stability. The national regulatory framework will be updated to take account of these … |
24 April 2026 | Spot Inspections | Summary of SPOT inspections on the digital client journey As an extension of the work carried out by the Autorité des Marchés Financiers (AMF) on retail investor protection, and as announced in its supervisory priorities for 2025, a series of short thematic inspections (SPOTs) was carried out on the digital pathways offered to retail clients for subscribing to and placing orders for financial instruments… … or, on the contrary, complicate compliance with the regulatory requirements applicable to digitised pathways. The regulatory reminders provided in the boxes correspond to regulatory breaches found during the inspections of the … |
31 March 2026 | Spot Inspections | Summary of SPOT inspections of the compliance and internal control functions within asset management companies The scope of this SPOT campaign encompassed the compliance and internal control functions in place within five asset management companies ("AMCs"). The campaign was part of an ESMA common supervisory action (CSA) for the 2025 financial year. It follows on from the SPOT campaign conducted in 2020 on the outsourcing of internal control. An… … Compliance plays a preventive role: it ensures that the regulatory and ethical framework is adhered to, supports the … to the compliance and internal control functions. The regulatory reminders provided in the boxes in section 4 … 12 Regulatory monitoring encompasses recent regulatory developments and sanction decisions by the regulator, as well … |
27 March 2026 | News | The AMF clarifies its doctrine on several aspects relating to asset management companies The AMF has made several adjustments to its doctrine applicable to asset management companies in order to take account of certain regulatory developments and to address clarification needs expressed in particular by professionals. … table to help asset management companies to calculate regulatory own funds. The AMF is clarifying the wording of … management companies in order to take account of certain regulatory developments and to address clarification needs expressed in … table to help asset management companies to calculate regulatory own funds. The AMF is clarifying the wording of … |
26 March 2026 | In-depth | The AIFM II Directive The AIFM II Directive modifies the rules applicable to UCITS and AIF management companies. This publication, which will be updated regularly, aims to raise awareness among management companies of the main developments provided for by the AIFM II Directive, which must be transposed by 16 April 2026, and which are likely to impact their activity. … amended and enriched several times in order to adapt the regulatory framework to market developments, at the same time as ensuring a high level of … ESMA will submit to the Commission by 16 April 2027 draft regulatory and implementing technical standards which shall … |
26 March 2026 | Policy | Position - Recommendation DOC-2012-19 - … and other natural or legal persons, or b.) the legislative/regulatory provisions of a state not party to the agreement … and portfolios regarding, in particular, risk limits and regulatory and/or contractual constraints as well as UCITS or … with delegation/outsourcing and to verify compliance with regulatory requirements (the delegate is authorised for … |
09 March 2026 | News | The AMF analyses the typology of participants on the French equity market over the past five years. Over the last few years, the structure of the French equity market has evolved significantly, driven by a combination of regulatory developments, the effects of Brexit, and broader structural shifts. In this context, the Autorité des marchés financiers (AMF) has examined, over the period 2019-2024, changes in the typology of participants in the… … has evolved significantly, driven by a combination of regulatory developments, the effects of Brexit, and broader structural … has evolved significantly, driven by a combination of regulatory developments, the effects of Brexit, and broader structural … has evolved significantly, driven by a combination of regulatory developments, the effects of Brexit, and broader … |
09 March 2026 | Report / study | Typology of participants on the french equity market As part of its market surveillance activities, the Autorité des Marchés Financiers (AMF) has examined, over the period 2019-2024, changes in the typology of participants (asset management companies, banks, issuers, retail investors) in the French equity market, as well as the evolution of their investment behaviours. … THE FRENCH EQUITY MARKET - 2 - EXECUTIVE SUMMARY Despite regulatory developments, changes in market structure — notably the rise … alongside an increase of fragmentation of flows. These developments resulted in a decline in the market share of the … |
26 February 2026 | Spot Inspections | Summary of SPOT inspections on the consideration of sustainability preferences in the client journey This new SPOT summary analyses how sustainability preferences are taken into account by investment services providers. It is fully in line with the AMF's "Impact 2027" strategic orientations, which aim to promote sustainable finance and ensure investor protection. It is also fully in line with the supervisory measures defined at European level by… … 19 3 1. BACKGROUND The regulatory environment is evolving and is seeking to … These preferences are determined in accordance with three regulatory principles: - the proportion of the investment … This impetus had sometimes come up against various regulatory and technical constraints. The challenge for … |
