01 January 2024 | Policy | Recommendation DOC-2020-07 … What are the substantial criteria that the AMF takes into account for the license of digital asset service providers? … 3-month term deposits and liquidities and debt securities. The eligibility of other types of instruments … term deposits and listed or high credit quality debt securities. The eligibility of other types of instruments … |
17 July 2023 | Ombudsman’s Blog | When the introduction of the single retirement savings plan (Plan d’épargne retraite unique: PERU) creates misunderstandings among savers PERO, PERECO, PERIN… The PACTE Law came into effect in 2019 and profoundly altered the retirement savings universe, introducing new acronyms that are sometimes difficult for savers to distinguish from one another, especially when an additional character is added to reflect the ability for the employer to group the collective company retirement…… PACTE Law) opened in the books of employee savings scheme account-keeper X. Mr L. specified to me that his former … scheme of its employees and former employees to a new account-keeper Y. On this occasion, Mr L.'s PERCO plan was … propose a bank PER plan which, for its part, is based on a securities account. Two corporate PER plans (taken out via … |
05 July 2023 | News | Pump-and-dump practice: market manipulation sanctioned by the Paris Tribunal Correctionnel The Paris Tribunal Correctionnel (Criminal Court) has sanctioned a pump-and-dump type market manipulation that was reported to it by the AMF. The AMF had joined the proceedings as a civil party.… to lacking authorisation or approval to recommend these securities for purchase, the person fails to disclose to … position purchased at a high price in often illiquid securities. Investigations by the AMF's Investigations … confiscation of the €2,662,000 seized from a securities account in the United Kingdom, and a declaration of … |
04 July 2023 | AMF news release | The AMF examines the systems for valuation of the less liquid assets of UCITS and AIFs As part of a Common Supervisory Action on the European level, the Autorité des Marchés Financiers (AMF) surveyed investment management companies on how they value the less liquid assets in their portfolios. The AMF performed inspections for 10 of them, invested in real estate assets or corporate bonds. In a summary document, it draws the lessons…… of a Common Supervisory Action coordinated by the European Securities and Markets Authority (ESMA), the AMF examined how … on prospective data not always specifically taking into account current market conditions, or on historical data. The … in scouting for information to update the valuation of the securities in the portfolio. In that case the funds show … |
14 June 2023 | Ombudsman’s Blog | Stock market orders: the share price adopted for the provision check must not be obsolete When sending a stock market order, a provision check is performed systematically by the account-keeper to ensure that the client has sufficient funds to honour the transaction. This check is performed at the time when the order is given, on the basis of the last quoted price, depending on the quantity requested or the amount indicated, within the…… buy orders for X, a biotech stock, specifying to their account-keeper the amount of the cash balance on each of the … on the stock market via internet, very often for high-risk securities related to the biotech sector. Thus, in addition … and used to convert the amounts committed into a number of securities, proved to be obsolete, with serious consequences … |
12 June 2023 | News | MiFID II suitability assessment: the AMF applies the updated ESMA guidelines The Autorité des Marchés Financiers (AMF) has published an update to its Position DOC-2019-03 to incorporate updates to the guidelines issued by the European Securities and Markets Authority (ESMA) on certain aspects of the MiFID II suitability requirements. The AMF also updaties its Position-Recommendation DOC-2006-23 to extend the scope of these…… the following guidelines on the requirement to take into account any sustainability preferences clients may have: … updates to the guidelines issued by the European Securities and Markets Authority (ESMA) on certain aspects of … updates to the guidelines issued by the European Securities and Markets Authority (ESMA) on certain aspects of … |
26 May 2023 | Public statements | Speech by Marie-Anne Barbat-Layani, AMF Chair, The AMF: "a pivotal position at the heart of financial regulation" - General Assembly of the French Association of Corporate Treasurers - 20 April 2023 … observed by money market funds invested in government securities is interpreted as a sign of a temporary quest for … that the potential risks to investors are taken into account as far as possible. Here again, the AMF is striking a … to be amended to allow for experimentation with financial securities on blockchain. From the outset, our ambition was … |
22 May 2023 | News | MiFID II remuneration requirements: the AMF applies the ESMA Guidelines The Autorité des Marchés Financiers (AMF) has published a Position DOC-2023-03 to incorporate the guidelines of the European Securities and Markets Authority (ESMA) on certain aspects of the MiFID II remuneration requirements. This position will come into force on October 3rd, 2023.… the ESMA Guidelines … Context … In order to take into account the various events that occurred after the entry into … DOC-2023-03 to incorporate the guidelines of the European Securities and Markets Authority (ESMA) on certain aspects of … DOC-2023-03 to incorporate the guidelines of the European Securities and Markets Authority (ESMA) on certain aspects of … |
16 May 2023 | Policy | Instruction DOC-2014-01 … of order execution/reception for third parties, own-account dealing and portfolio management for third parties … on its business: Services provided Client funds and/or securities held (Account keeping) Minimum paid-in capital … investment management strategies; 2° use of unlisted securities; 3° use of complex over-the-counter financial … |
08 May 2023 |
| Article 322-12 Book III - Service providers > Title II - Other service providers > Chapter I - Custody account-keepers > Section unique - Provisions relating to custody account-keeping - terms of reference for the custody account-keeper > Sub-section 2 - Professional obligations of the keepers of securities accounts other than the issuing entities > Paragraph 2 …… Article 322-12 … I. - The custody account-keeper shall send, on a durable medium, at least once … request by this latter, a statement of his/her financial securities. The statement shall include the information … shall send, as quickly as possible, to each holder of a securities account the following information: Information … |
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