End of the term of office of the AMF chairman and interim chairmanship
AMF activity Appointment Journalists End of the term of office of the AMF chairman and interim chairmanship
Sectors:
Topics:
BankAsset ManagerBroker Dealer
July 2022
July 2022 Regulatory Updates
All financial regulatory updates published in July 2022.
18 Updates
1 Regulators
Common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR: the AMF complies with ESMA guidelines
Market infrastructures Post-trading infrastructures EMIR Common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR: the AMF complies with ESMA guidelines
Sectors:
Topics:
BankBroker DealerAll Firms
The AMF is conducting a consultation on the end of life of private equity funds intended for retail investors
Asset management Savings protection Journalists The AMF is conducting a consultation on the end of life of private equity funds intended for retail investors
AI Analysis
The AMF is conducting a consultation on regulatory reforms governing the end-of-life management of retail private equity funds (FCPRs, FCPIs, and FIPs), with the objective of improving compliance with liquidation deadlines and enhancing investor protection through better information disclosure and operational safeguards. This initiative addresses systemic issues where fund managers have historically failed to respect contractual lifespan commitments, creating liquidity risks and investor communication failures.
Sectors:
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Asset ManagerWealth Manager
AMF's response to the International Sustainability Standards Board’s consultation on the exposure drafts on international sustainability disclosures
Regulatory developments Europe & international Sustainable Finance Periodic & ongoing disclosures AMF's response to the International Sustainability Standards Board’s consultation on the exposure drafts on international sustainability disclosures
AI Analysis
The Autorité des Marchés Financiers (AMF), France's financial markets regulator, issued a position paper on July 27, 2022, responding to the International Sustainability Standards Board's (ISSB) consultation on exposure drafts for international sustainability disclosure standards (IFRS S1 and S2). This matters for compliance professionals as it signals France's push for global-EU interoperability in ESG reporting, influencing how firms align ISSB "investor-focused" standards with Europe's double-materiality CSRD/ESRS framework to avoid dual reporting burdens. https://www.amf-france.org/en/news-publications/amfs-eu-positions/amf-response-issb-consultation-exposure-drafts-sustainability-disclosure-standards; https://www.amf-france.org/sites/institutionnel/files/private/2022-07/Position%20paper%20ISSB%20AMF%20-%20July%202022_0.pdf #
Sectors:
Topics:
Asset ManagerBankAll Firms
AMF's response to the EFRAG consultation on the draft European sustainability reporting standards
Regulatory developments Europe & international Sustainable Finance Periodic & ongoing disclosures AMF's response to the EFRAG consultation on the draft European sustainability reporting standards
AI Analysis
The AMF's position paper responds to EFRAG's 2022 public consultation on the first set of draft European Sustainability Reporting Standards (ESRS) under the CSRD, welcoming their ambition on ESG topics and double materiality while urging proportionality, international interoperability, materiality focus, and alignment with EU laws like SFDR. This matters for compliance professionals as it shapes final ESRS, influencing mandatory sustainability disclosures for EU firms and financial market participants from 2024 onward, with potential simplifications affecting reporting burdens. https://www.amf-france.org/en/news-publications/news/amfs-response-efrag-consultation-draft-european-sustainability-reporting-standards #
Sectors:
Topics:
Asset ManagerBankInsurance
Crypto-asset markets: Agreement reached on the European Crypto-Assets regulation (MiCA)
MiCA Crypto-assets Innovation Cooperation Europe & international Crypto-asset markets: Agreement reached on the European Crypto-Assets regulation (MiCA)
Sectors:
Topics:
Crypto ExchangeFintech
The AMF Enforcement Committee fines a depositary for breaches of its professional obligations
Sanctions & settlements Compliance Journalists Investment services providers The AMF Enforcement Committee fines a depositary for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined RBC Investor Services Bank France SA (RBC ISBF) €500,000 plus a warning on 20 July 2022 (published 08 January 2026) for breaches as a UCITS and AIF depositary, including 25 confirmed failures in tiered intervention procedures for investment ratio overruns and deficient monitoring of 14 questionable cash flows over 45 months. This decision underscores AMF's strict enforcement of depositary duties under French regulations implementing UCITS/AIFMD, emphasizing robust controls for ratio compliance, cash flow verification, and documentation. It matters for compliance teams as it provides precedent on what constitutes "irregular and deficient" oversight, potentially increasing scrutiny and fines for similar lapses in depositary functions. #
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Asset ManagerBankWealth Manager
The AMF and the ARPP are stepping up their cooperation to promote clear and responsible advertising of financial products
Savings protection Cooperation Crypto-assets Fintech Journalists The AMF and the ARPP are stepping up their cooperation to promote clear and responsible advertising of financial products
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Topics:
BankFintechCrypto Exchange
The AMF reviews the key issues raised by the Veolia-Suez public offer
Bids Financial disclosures & corporate financing The AMF reviews the key issues raised by the Veolia-Suez public offer
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Topics:
BankAsset ManagerBroker Dealer
The AMF Enforcement Committee fines one natural person and five legal entities, including an investment management company, for failing to comply with several reporting obligations in relation to a concerted action carried out in the context of a part...
Sanctions & settlements Journalists The AMF Enforcement Committee fines one natural person and five legal entities, including a management company, for failing to comply with several reporting obligations in relation to a concerted action carried out in the context of a takeover bid and, in the case of the...
AI Analysis
The AMF Enforcement Committee imposed fines on one natural person and five legal entities, including an investment management company, for failing to comply with multiple reporting obligations related to a concerted action during a partial takeover bid.[User Query]. This enforcement action underscores the AMF's strict enforcement of transparency rules in takeover scenarios, serving as a critical reminder for market participants to adhere to disclosure timelines to avoid significant financial penalties and reputational damage. #
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Asset ManagerAll Firms
The AMF has published a study of the profile of participants and their positions in the Matif agricultural commodities derivatives market
Derivatives or structured products Journalists The AMF has published a study of the profile of participants and their positions in the Matif agricultural commodities derivatives market
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Topics:
Broker DealerAsset Manager
The AMF Enforcement Committee fines a portfolio asset management company for breaches of its professional obligations
Sanctions & settlements Journalists The AMF Enforcement Committee fines a portfolio asset management company for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined an unnamed portfolio asset management company €400,000 for multiple breaches of professional obligations, including non-operational investment/divestment procedures, inadequate conflict of interest management with group service providers, lack of transparency on distributor fee retrocessions, deficient client categorization, and weak AML/CFT due diligence. This enforcement action, mirroring recent similar cases against firms like Novaxia Investissement and Eternam, underscores the AMF's heightened scrutiny on operational robustness and transparency in asset management, serving as a critical reminder for firms to ensure procedures are fully implemented and documented to avoid personal liability for executives. #
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Asset Manager
Publication of the SPOT inspection campaign summary on market abuse prevention systems in asset management companies
Supervision MAR Journalists Investment services providers Investment management companies Publication of the SPOT inspection campaign summary on market abuse prevention systems in asset management companies
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Asset Manager
The AMF publishes its 2022 Markets and Risk Outlook
Risk and Trend Mapping Markets Europe & international Asset management Executive & other private individuals Journalists Investment services providers Investment management companies Listed companies and issuers The...
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Topics:
Asset ManagerBroker Dealer
The AMF publishes a summary of its SPOT inspections on the theme of best execution in asset management companies
Supervision MIFID Journalists Investment services providers Investment management companies The AMF publishes a summary of its SPOT inspections on the theme of best execution in asset management companies
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Asset Manager
Grégoire Vuarlot is appointed coordinator of the ACPR and AMF Joint Unit starting 1st July 2022
AMF activity Appointment Journalists Grégoire Vuarlot is appointed coordinator of the ACPR and AMF Joint Unit starting 1st July 2022
Sectors:
Topics:
BankWealth ManagerAsset Manager
The AMF continues its data strategy with the release of short selling data to the public
Innovation AMF activity Journalists Investment services providers Investment management companies Listed companies and issuers The AMF continues its data strategy with the release of short selling data to the public
Sectors:
Topics:
Asset ManagerBroker Dealer
Market infrastructures on blockchain technology: publication of the European Pilot Regime regulation
Crypto-assets Innovation Market infrastructures on blockchain technology: publication of the European Pilot Regime regulation
Sectors:
Topics:
Crypto ExchangeFintech