15 December 2021 | Ombudsman’s Blog | What are the obligations of the account keeper and its client when a securities transaction results in a debit cash balance? From time to time, investors fail to anticipate the effects of a securities transaction on their holdings correctly. However, with withholding tax, a securities transaction may lead to a debit balance that will have to be regularised by the investor. In such a situation, the custody account-keeper has a role to play insofar as it is obliged to…… What are the obligations of the account keeper and its client when a securities transaction results in a debit cash balance? … The … facts … Mr and Mrs B are both joint holders of a joint securities account, opened in the books of institution X, in … |
09 December 2021 | Policy | Position DOC-2010-05 … financial instruments As structured funds and complex debt securities present risks that retail clients cannot easily … financial instruments As structured funds and complex debt securities present risks that retail clients cannot easily … regularly review such financial instruments, taking into account any event that might materially influence the … |
22 November 2021 | Ombudsman’s Blog | A stock exchange order must be able to be cancelled or altered as long as it has not been executed It sometimes happens that investors do not benefit from the possibility of cancelling or altering their order submitted to the market, although there would still be time, for example during a phase of suspension of trading, to prevent it from being executed at a very different price from what was expected. But what happens when a client wants…… updated in his personal space, Mr X. noted that the cash account attached to his securities account showed a debit balance of more than … have been sent to the market". He advised him to sell his securities in order to make up the overdraft. Seeing no other … |
28 October 2021 | Public statements | Speech by Robert Ophèle, AMF Chairman - 60th anniversary of SFAF -21 october 2021 … issuers who also have an interest in monitoring their securities can legitimately contribute to funding this … with the proliferation of indicators to be taken into account to improve short-term forecasts, and faced with the … |
08 October 2021 | Public statements | Keynote speech by Robert Ophèle, AMF Chairman - AFME’s 5th Annual European Compliance and Legal Virtual Conference – 7 October 2021 … framework lies at the crossroads of many issues: which securities are liquid, what are technical or non … are loose. Taking this feature of the market into account, developing a consolidated tape based on the current … an investment firm for a DEA user only trading on its own account is unanimously supported. Let’s wait and see how the … |
28 September 2021 | AMF news release | Sustainable finance: for 76% of French people, the environmental impact of investments is an important issue The Autorité des Marchés Financiers (AMF) has published the results of two studies of French people's perceptions of responsible or sustainable financial products and the expectations of retail investors. These studies show an interest among private individuals, as well as a great need for education and transparency to increase awareness of and…… more than one in two French people say that they take into account sustainable development issues in their retail … life insurance policy, personal equity savings plan (PEA), securities account, employee savings scheme or retirement savings … |
23 September 2021 |
| Article 322-2 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 1 - Scope of application of the terms of reference and definition of the activity of custody account-keeping >…… of the Monetary and Financial Code, where the financial securities are recorded in a securities account held by one of the intermediaries mentioned in 2° … |
23 September 2021 |
| Article 322-3 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 1 - Scope of application of the terms of reference and definition of the activity of custody account-keeping >…… Article 322-3 … The activity of custody account-keeping consists: Of recording in a securities account, or in a distributed ledger system the financial securities in the name of their owner, i.e., recognising the … |
23 September 2021 |
| Article 322-67 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 4 - Professional obligations of the issuer entities considered in their capacity as custody account-keepers and…… has the legal capacity and the status required to open the account or so that recording may be performed on its behalf … where a legal entity holder of pure registered financial securities is concerned, that the representative of this … agreement or an agreement for recording the financial securities in a distributed ledger system with the holder of … |
23 September 2021 |
| Article 322-68 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 4 - Professional obligations of the issuer entities considered in their capacity as custody account-keepers and…… Article 322-68 … The account opening agreement or the agreement for recording the financial securities in a distributed ledger system shall contain: The … identity of the holder of the pure registered financial securities; Where a legal entity is concerned, the modalities … |
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