September 2022 Regulatory Updates

September 30th 2022

AMF Chair: Proposal to appoint Marie-Anne Barbat-Layani

AMF activity AMF Chair: Proposal to appoint Marie-Anne Barbat-Layani

AI Analysis

This AMF publication announces a proposal to appoint Marie-Anne Barbat-Layani as Chair of the AMF, France's financial markets authority responsible for investor protection, market supervision, and regulatory enforcement. It matters for compliance professionals because leadership changes at key regulators like the AMF can signal shifts in enforcement priorities, supervisory focus, or policy directions affecting investment firms, asset managers, and market participants across the EU. While not imposing immediate rules, it warrants monitoring for potential impacts on ongoing consultations and governance expectations.

Suggested considerations

binding appointment proposal without compliance obligations. Recommended steps include:
Monitor AMF website (https://www.amf-france.org) for ratification confirmation and any inaugural statements on priorities.
Review existing AMF relationships and prepare for potential shifts in supervisory engagement.
Update internal governance logs noting key regulator personnel changes.

What changed

No specific regulatory changes or new requirements are outlined in this publication, as it solely concerns a leadership appointment proposal rather than substantive rule amendments. The AMF's standard process for such proposals involves board review and government ratification, but no alterations to the General Regulation, policies, or compliance obligations are proposed here.

Compliance impact

Urgency: Low – This is a procedural leadership announcement with no immediate regulatory or operational impacts. It matters for long-term strategic planning, as the new Chair could influence AMF's approach to MiFID II implementation, sustainability integration, or enforcement, but firms face no urgent adjustments today.

References

AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.

Sectors:

Topics:

Authorisation & Licensing Senior Managers / Governance

Asset ManagerBroker DealerBank

View Original

🇫🇷 AMF Warning

September 30th 2022

The AMF and the ACPR warn the public against the activities of several entities offering in France investments in Forex and in crypto-assets derivatives without being authorized to do so

Warning Savings protection Forex and binary options Crypto-assets Warning The AMF and the ACPR warn the public against the activities of several entities offering in France investments in Forex and in crypto-assets derivatives without being authorized to do so

Why this matters

The warning relates to unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which poses risks to consumers and requires urgent action.

Sectors:

Banking & Credit Crypto & Digital Assets Capital Markets & Trading

Topics:

Consumer Protection / Conduct Authorisation & Licensing

BankCrypto ExchangeFintech

View Original

🇫🇷 AMF News Significant

September 28th 2022

AMF and ACPR announce the withdrawal of BYKEPS SAS’s registration as a DASP

Crypto-assets Anti-money Laundering Supervision Journalists Investment services providers AMF and ACPR announce the withdrawal of BYKEPS SAS’s registration as a DASP

Why this matters

This regulatory update announces the withdrawal of BYKEPS SAS's registration as a Digital Asset Service Provider (DASP), which is relevant for crypto and digital asset firms.

Effective Date: 27 September 2022

Sectors:

Crypto & Digital Assets

Topics:

AML / Financial Crime Authorisation & Licensing

Crypto Exchange

View Original

🇮🇪 CBI Enforcement

September 26th 2022

Central Bank of Ireland Issues Warning on Unauthorised Firm – Fraudulent entity clones authorised firm SEI Investments

It has come to the attention of the Central Bank that a scam entity by the name SEI Investment (United States, Ireland), formerly operating the fraudulent clone website www.seiinvestment.com, has been claiming to be an investment firm / investment business firm in the absence of appropriate authorisations. In this…

AI Analysis

The Central Bank of Ireland (CBI) issued a warning on 26 September 2022 about a fraudulent entity named "SEI Investment (United States, Ireland)" that cloned the legitimate authorised firm SEI Investments (www.seic.com) via the fake website www.seiinvestment.com to deceive consumers into unauthorised investment services. This matters because it highlights the rising threat of clone firm scams, which impersonate authorised entities using stolen details like names, addresses, and authorisation numbers, exposing firms to reputational risk and consumers to financial loss without Investor Compensation Scheme protection. Authorised firms must remain vigilant in monitoring for clones and reporting them promptly, as demonstrated by SEI Investments' proactive response that led to the site's deactivation in February 2022.

Key dates

February 2022: - Fraudulent clone website www.seiinvestment.com deactivated following legitimate firm's report
26 September 2022: - CBI issues warning notice on SEI Investment clone

Suggested considerations

Monitor for clones: Regularly search for impersonations of your firm's name, website, authorisation numbers, LEI, CRO, or address; report suspicions to CBI at (01) 224 4000.
Client communications: Advise clients to always access CBI Register directly from www.centralbank.ie (not via email/website links), double-check URLs/phone numbers, verify products on legitimate sites, and apply the SAFE test for unsolicited contacts.
Internal processes: Update fraud awareness training, client onboarding checks, and surveillance for clone activity; emulate SEI Investments by proactively notifying authorities.
Public reporting: Encourage staff/clients to report unauthorised activity via CBI hotline or Search Unauthorised Firms page.

What changed

This is not a regulatory change or new requirement but a public enforcement warning under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013, emphasising ongoing enforcement against unauthorised firms providing regulated financial services, which is a criminal offence. It reinforces consumer protection guidance without introducing new rules, but signals CBI's heightened focus on clone firm frauds, as seen in similar warnings (e.g., The Capital Holdings clone, Bank of Ireland clones).

Compliance impact

Urgency: Medium – Not critical as the specific clone site was deactivated in 2022, but medium due to persistent clone fraud trend evidenced by ongoing CBI warnings into 2026 (e.g., BW Financial Services clone in August 2025, Stalwart Investments clone in March 2026). Matters for authorised firms as it underscores reputational, operational resilience, and consumer protection obligations under CBI's supervisory framework; unaddressed clones can lead to client complaints, enforcement scrutiny, or compensation claims if mis-sold products are linked back erroneously.

References

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:

Investment Management Wealth & Private Banking Banking & Credit

Topics:

Consumer Protection / Conduct AML / Financial Crime Authorisation & Licensing

Asset ManagerWealth ManagerBank

View Original

🇫🇷 AMF News

September 15th 2022

The AMF creates a working group on equity savings plans (PEAs)

Equity Savings Plan Long term investment Savings protection Retail investors Journalists The AMF creates a working group on equity savings plans (PEAs)

Why this matters

This regulatory update from the AMF (French financial markets regulator) announces the creation of a working group on equity savings plans (PEAs), which are long-term investment vehicles for retail investors.

Sectors:

Investment Management Wealth & Private Banking Capital Markets & Trading

Topics:

Consumer Protection / Conduct Authorisation & Licensing Reporting & Disclosure

Asset ManagerWealth ManagerBank

View Original

🇫🇷 AMF News

September 15th 2022

Call for candidates: renewal of the members of the Climate and Sustainable Finance Commission

Sustainable Finance AMF activity Journalists Call for candidates: renewal of the members of the Climate and Sustainable Finance Commission

Why this matters

This regulatory update is related to the renewal of the members of the Climate and Sustainable Finance Commission, which is relevant for banking, investment management, and wealth management firms that are subject to ESG and sustainability regulations.

Sectors:

Banking & Credit Investment Management Wealth & Private Banking

Topics:

ESG / Sustainability Authorisation & Licensing Senior Managers / Governance

Asset ManagerBankWealth Manager

View Original

🇫🇷 AMF Warning

September 1st 2022

The AMF calls for vigilance against fraudulent sites usurping its name

Warning Savings protection Warning The AMF calls for vigilance against fraudulent sites usurping its name

Why this matters

This regulatory update from the AMF warns about fraudulent websites impersonating the regulator, which poses risks to consumers and firms in the banking, investment management, and wealth management sectors.

Sectors:

Banking & Credit Investment Management Wealth & Private Banking

Topics:

Consumer Protection / Conduct Authorisation & Licensing Technology & Cyber

BankWealth ManagerFintech

View Original