16 February 2023 | Policy | Position - Recommendation DOC-2011-24 … dividend waiver shall indicate that it does not take into account the dividends waived in the calculation of its final … and AIFs, “guaranteed” UCITS and AIFs and structured debt securities issued by special purpose vehicles and marketed to … and AIFs, “guaranteed” UCITS and AIFs and structured debt securities issued by special purpose vehicles and marketed to … |
16 February 2023 | Policy | Position - Recommendation DOC-2011-05 … 17 Employee savings fund s invested in corporate securities ............................................... … as soon as it concerns UCITS or non-UCITS, taking into account the characteristics of the different CISs and real … markets but uses financial techniques (derivatives, securities lending and borrowing, etc…) to modify its … |
16 February 2023 | Policy | Instruction - Position - Recommendation DOC-2019-12 … relating to client instruments and the terms on which securities financing transactions involving client securities will generate a return for the client". In … If an indicator is available in a version that takes into account reinvested dividends, the AMF recommends that the … |
06 February 2023 | Enforcement Committee news releases | The AMF Enforcement Committee fines three legal entities and eight individuals for insider dealing breaches and failure to maintain and update insider lists In its decision of 30 January 2023, the Enforcement Committee imposed financial penalties of between €5,000 and €1,000,000 on ten individuals for insider dealing. It also imposed a fine of €350,000 on the legal entity whose securities were concerned by the insider dealing for failing to comply with its obligations to maintain and update the…… information in question. The Committee also took into account the explanations given by the respondents to justify … also imposed a fine of €350,000 on the legal entity whose securities were concerned by the insider dealing for failing … also imposed a fine of €350,000 on the legal entity whose securities were concerned by the insider dealing for failing … |
24 January 2023 | Retail investors dashboard | The Active Retail Investor Dashboard - No.9 - January 2023 The Active Retail Investor Dashboard provides quarterly updates on individuals who have carried out at least one transaction on financial instruments in the past three months.… - No.9 - January 2023 … Shares … Long term investment … Securities account … Equity Savings Plan … |
20 January 2023 | Public statements | Speech by Marie-Anne Barbat-Layani, AMF Chair - New Year address to the financial centre - Monday 9 January … the advice given come at a cost. This must be taken into account in the European-level discussions on investor … in particular, the remarkable work of the European Securities and Markets Authority (ESMA) under the aegis of … |
03 January 2023 | Enforcement Committee news releases | The AMF Enforcement Committee fines the British company H2O AM LLP and two of its executives at the time of the facts for several breaches of their professional obligations In its decision of 30 December 2022, the Committee imposed fines on H2O AM LLP, Mr. Bruno Crastes and Mr. Vincent Chailley of respectively €75 million, €15 million and €3 million, each with a disciplinary sanction, for several breaches committed in the management of French funds relating to investments in financial instruments.… of an immediate purchase coupled with a forward sale of securities at a pre-agreed date and price (“buy & sell back” … all the complaints. As regards the direct acquisitions of securities, the Committee considered that H2O AM LLP had … H2O AM LLP had not properly taken this liquidity risk into account at the time of the investments; these financial … |
21 December 2022 | News | Digital assets: the AMF strengthens its policy on DASPs in relation to good repute and skills and promotional communications The Autorité des Marchés Financiers (AMF) has revised its policy (Position-Recommendation AMF DOC-2020-07 and Instruction AMF DOC-2019-23) on the regime of digital asset service providers (DASP) mainly in order to clarify expectations in terms of good repute and skills of the senior managers and holders of the control of the DASPs. The AMF…… which is similar to that adopted in the joint European Securities and Markets Authority (ESMA) and European Banking … to financial investment advisers) is adjusted to take into account these changes. The AMF provides details with regard … to financial investment advisers) is adjusted to take into account these changes. The AMF provides details with regard … |
14 December 2022 | Article | Ombudsman's annual report Marielle Cohen-Branche, Ombudsman of the Autorité des Marchés Financiers (AMF), has presented her latest annual report at a press conference. 2021 was a year characterised by an unprecedented number of requests and recommendations. Disputes related to "PEA" personal equity savings plans were the prime reason for case referrals, ahead of employee…… more precisely as to whether or not they can buy or sell securities in their PEA plan and regarding the potential … by improved information given to employee savers by the account-keepers, due, among other things, to new regulatory … |
16 November 2022 | Ombudsman’s Blog | Stock market orders: a financial institution may reject an order that it deems to be "aberrant" Alongside Euronext’s authority to cancel certain transactions that have already been executed, especially when the price of the order is considered to be “aberrant”, account-keeping institutions may also reject a client’s order when the limit set by the client is too far from the last known price. However, in order to avoid misunderstandings or…… the opening of the trading session, he noticed that his account keeper’s website had quoted a theoretical opening … entered a €16 stop loss order, which was taken into account and executed on the same day at €11.02. As the price … in order to prevent excessive volatility in the prices of securities, as well as input errors that can have serious … |
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