All financial regulatory updates published in March 2023.
Appointment AMF activity Institutional Journalists Laure Tertrais is appointed Head of the AMF Chair’s Executive Office with effect from 1 April 2023
Collective investments Shares The AMF presents its proposals to improve the readability of financial product fees in European law
The Autorité des Marchés Financiers (AMF, France's financial markets authority) has proposed a new table for presenting subscription fees on financial instruments and an accompanying glossary to enhance investor readability and comparability, developed in collaboration with the Financial Sector Consultative Committee (FSCC) as input to the European Commission's Retail Investment Strategy. This matters because it targets reconciling MiFID 2 and PRIIPs disclosure requirements, which currently hinder clear fee communication, potentially influencing future EU-level amendments to improve retail investor protection without imposing new obligations.
Sustainable Finance Asset management Sustainable Finance Disclosure Regulation: the AMF publishes a study on classifications and fossil fuel exposure in the French funds universe
Employee savings scheme Long term investment Collective investments Retail investors Professional investors Journalists Employee savings: a sharp increase in awareness and ownership of employee savings schemes; support for employees and company managers...
“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk, Central Bank of Ireland at Insurance Ireland - KPMG Briefing Session: CBI Review of the Consumer Protection Code
Sanctions & settlements Journalists The AMF Enforcement Committee fines the head of consolidation of a listed company for insider dealing
The AMF Enforcement Committee fined the head of consolidation at a listed company for insider dealing, highlighting the regulator's aggressive enforcement against misuse of privileged information by senior finance personnel. This case underscores the personal liability of executives with routine access to inside information and reinforces the need for robust internal controls in listed entities. Compliance teams should prioritize this as a reminder of heightened scrutiny on insider networks and trading restrictions.
Long term investment Equity Retail investors Professional investors Journalists The AMF has produced the standard profile of active investors in 2022
Sustainable Finance Publication by the Climate and Sustainable Finance Commission: climate resolutions
Sustainable Finance Executive & other private individuals Journalists Listed companies and issuers Shareholder dialogue on environmental and climate issues
MIFID Supervision Retail investors Journalists Mystery shopping campaign to bank branches: progress made in the questioning to client, improvements needed in the information provided
Warning Warning Savings protection Forex and binary options The AMF warns the public about fraudulent investment offers through trading robots
AMF activity Asset management Contributions payable to the AMF: a new complaints form for a more effective follow-up