14 December 2023 | Policy | Recommendation DOC-2012-02 … 7 1.2 Stock options and performance shares ___________ ______________________________ 8 1.3 The … purposes only 8/9 1.2 Stock options and performance shares The AMF recommends3 that: - the AMF recommends that … to executives and the final allotment of all performance shares should be subject to both internal and, where possible … |
14 December 2023 | Policy | Position - Recommendation DOC-2012-19 … of business conduct rules to marketing of units or shares in UCITS or AIFs by asset management companies, … AIF does not use leverage and may not repurchase units or shares for a five-year period from the date of the initial … securities: the possibility of permitting the trading of shares on Alternext without offering them to the public. … |
01 December 2023 | Enforcement Committee news releases | The AMF Enforcement Committee fines Visiomed and its former directors, Éric Sebban and Olivier Hua, for market manipulation. It also fines Negma Group Ltd for breach of its reporting obligations In its decision of 27 November 2023, the Committee imposed fines of €200,000 on Visiomed, of €650,000 on Éric Sebban and of €350,000 on Olivier Hua for disseminating false or misleading information that could have set the price of Visiomed's shares at an abnormal or artificial level. It also imposed a fine of €100,000 on Negma Group Ltd for… … of two financing agreements using bonds convertible into shares with share warrants (OCABSA). It considered that this … by Visiomed was likely to set the price of its shares at an abnormal or artificial level, in this case … or fallen below its net short position in Visiomed shares on 10 occasions between May and July 2019. An appeal … |
22 November 2023 | Ombudsman’s Blog | When the matrimonial property regime changes the calculation of a capital gain or loss If the matrimonial regime takes the form of joint ownership of property with a full attribution clause, the couple’s assets are attributed in their entirety to the surviving spouse.
As illustrated in the case I am presenting this month, the question then arises as to the acquisition price to be used to calculate the capital gains or losses on… … gain or loss … Facts … Mrs T told me that her husband held shares in company X in an ordinary securities account, which … out a compulsory buyback [1] resulting in the sale of shares to the issuer and triggering capital gains tax on the … keeper at the time of the compulsory buyback of X company shares. In response to her complaint, the account keeper … |
22 November 2023 | Enforcement Committee news releases | The AMF Enforcement Committee fines two individuals for insider dealing breaches Please note that the French version of this press release was published on 13 November 2023.
In its decision of 10 November 2023, the Enforcement Committee imposed a fine of €80,000 on Mr Yohann Catherine, the chief operations officer of a listed company at the time of the events, for disclosing two items of inside information concerning the… … to Mr Guillet this information and a recommendation to buy shares based on this information, and that Mr Guillet then used this information and recommendation to buy 4,000 shares in the listed company. In addition, having identified … made improper use of this information by selling 17,000 shares six days before the listed company published its … |
09 November 2023 | AMF news release | An OECD study for the AMF profiles new French retail investors In order to gain a better understanding of retail investors who have started to invest in the markets since 2020, the Autorité des Marchés Financiers (AMF) has requested the support of the European Commission, which has designated the Organisation for Economic Co-operation and Development (OECD) to assist it in its efforts to target this audience… … (33%), followed by retirement savings products (29%) and shares of listed companies (24%). Their investment horizon is … |
09 November 2023 | Household Savings Newsletter | AMF Household Savings Newsletter - No. 54 - November 2023 This letter is fully based on the OECD's recently published research report to measure the financial literacy, motivations, attitudes and behaviours of retail investors who have entered the market since 2020. … - No. 54 - November 2023 … Long term investment … Shares … Crypto-assets … |
27 October 2023 | Retail investors dashboard | The Active Retail Investor Dashboard - No.12 - October 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 quarter. … Active Retail Investor Dashboard - No.12 - October 2023 … Shares … Collective investments … Financial products … |
03 October 2023 | Ombudsman’s Blog | Account keepers informed of a clearing of the central order book by Euronext must inform affected clients Investment service providers must transmit or execute client orders in the order in which they are received, and promptly - unless the nature of the order or prevailing market conditions make this impossible, or the interests of the client require otherwise. They must also inform retail clients of any serious difficulty that is likely to affect… … informed me that he had placed an order to sell 1,000 V. shares on 30 March 2022, at the limited price of €18, and … Mr D. told me that on 14 April he had noticed that his V. shares had not been sold, even though the price limit of €18 … price fell, and Mr D. told me that he had sold his V. shares at €11.03 to avoid further losses. With regard to his … |
02 October 2023 | Policy | Position - Recommendation DOC-2019-16 DOC-2019-16 sets out the due diligence obligations with regard to clients and their beneficial owners, as provided by Articles L. 561-4-1 and following of the Monetary and Financial Code, taking account of the essential contributions of the 4th directive and 5th directive, and notably the reinforcement of the risk-based approach, the distinction… … is defined based on the method used to purchase units or shares in the collective investment managed by the portfolio … natural or legal person who directly purchases units of or shares in a fund on their own account, and not on behalf of … of its economic activity, directly purchases units of or shares in its own name and exercises control over the … |