13 February 2026 | Ombudsman’s Blog | Inheritance: securities held by a deceased person cannot be transferred to their heir's PEA In some of the disputes submitted to the ombudsman in the context of inheritance, heirs want to keep securities rather than sell them, as was the case in this month’s dossier. However, in such a situation, it should be recalled that securities initially held in the deceased's PEA cannot be transferred to the heir's PEA.… Inheritance: securities held by a deceased person cannot be transferred to … savings plan (PEA), told Mrs X that she could transfer the securities held by her husband to her own PEA. Three months … me to intervene in order to obtain the transfer of the securities held in her late husband's PEA to the one opened … |
09 February 2026 | AMF news release | The Autorité des Marchés Financiers publishes the findings of its inspections of asset management companies' operational risk management As part of its supervisory priorities for 2025, the AMF carried out an inspection campaign of the operational risk management systems put in place by asset management companies. The aim of this campaign was to evaluate the effectiveness of the systems deployed by these companies to identify, monitor, manage and report the operational risks they…… published in November 2025, ESMA (the European Securities and Markets Authority) ranks operational risk … it can bear in the course of its activities, taking into account the costs of post-incident remediation; putting in … published in November 2025, ESMA (the European Securities and Markets Authority) ranks operational risk … |
09 January 2026 | Article | I am a manager (or similar person) reporting my securities transactions Persons having management responsibilities must report to the AMF the transactions that they perform on the financial securities of the company in which they perform their functions. Persons closely related to them must also make such reports. Zoom on what you must know and procedures for reporting to the AMF.… I am a manager (or similar person) reporting my securities transactions … ONDE extranet . For your first report, you must create an account by clicking on "Create account" from the extranet home page. Once logged in to your … Corporate Finance Directorate Securities transactions reporting … |
07 January 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.… for undertakings for collective investment in transferable securities (UCITS) within the European Union. UCITS are … this means a fee, within a predetermined range that takes account of the cost of liquidity, that is paid to the fund by … for a number of mandates entrusted to the European Securities and Markets Authority (ESMA). Some will then have … |
24 December 2025 | Ombudsman’s Blog | Securities accounts and PEAs: in case of doubt, a schedule of fees is interpreted in the way that is most favourable to the client Retail investors enjoy dual protection: firstly, through the provisions of financial law and, secondly, through consumer law. Consequently, as I set out in this month's dossier, when the information provided by the account keeper can lead to confusion, the interpretation most favourable to the client must prevail.… Securities accounts and PEAs: in case of doubt, a schedule of … Mr C told me that he held an ordinary securities account (CTO) and an equities savings plan (PEA) with the … custody fees and stock market services, was offered for securities accounts on which more than 50 orders are executed … |
18 December 2025 | Policy | Instruction DOC-2011-20 - … as a letter or a document enclosed with a statement of account). Unless agreed otherwise by the AMF, this … Article 30-5 – “Euro-denominated bonds and other debt securities” AIF The AIF is exposed to fixed-income securities denominated in euros at all times. Exposure to … |
18 December 2025 | Policy | Instruction DOC-2011-19 - … as a letter or a document enclosed with a statement of account. This notification must comply with the standard … fixed-income” UCITS The UCITS is exposed to fixed-income securities denominated in euros at all times. Exposure to equities is less than 10% of net assets. Exposure to securities not denominated in euros and exposure to exchange … |
18 December 2025 | Policy | Instruction DOC-2011-21 - … task and nature of the activities. It should take into account, where applicable, the specific features of umbrella … net assets in terms of exposure Case of FCPEs invested in securities not admitted to trading on a regulated market: if … net assets in terms of exposure Case of FCPEs invested in securities not admitted to trading on a regulated market: if … |
18 December 2025 | Policy | Instruction DOC-2011-22 - … task and nature of the activities. It should take into account, where applicable, the specific features of umbrella … assets, with due consideration for the nature of the securities held and the maturity of the investments made. • … UCITS and AIFs, “guaranteed” UCITS and AIFs, and debt securities with similar characteristics issued by dedicated … |
18 December 2025 | Policy | Instruction DOC-2011-23 - … by type of operation. Where applicable, it must take into account the distinctive characteristics of real estate … as a letter or a document enclosed with a statement of account). Unless agreed otherwise by the AMF, this … and AIF, “guaranteed” UCITS and AIF, and structured debt securities issued by special-purpose vehicles and marketed to … |
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