Live Updates
July 2024

July 2024 Regulatory Updates

All financial regulatory updates published in July 2024.

15 Updates
1 Regulators
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🇫🇷 AMF Enforcement medium

AMF Enforcement Committee fines Biosynex, its CEO and several of its directors a total of €930,000

Sanctions & settlements Disclosure Obligations Journalists AMF Enforcement Committee fines Biosynex, its CEO and several of its directors a total of €930,000

AI Analysis

The AMF Enforcement Committee fined Biosynex and four directors (plus their holding companies) a total of €930,000 on 25 July 2024 for breaches including selective disclosure of inside information via a CEO interview, insider trading by selling shares on non-public knowledge of a treasury share sale, and failures to report share transactions to the AMF. This matters as it reinforces AMF's strict enforcement of MAR (Market Abuse Regulation) rules on information dissemination, insider dealing, and PDMR reporting, serving as a precedent for listed companies and executives during high-volatility periods like COVID-19. Appeals by some parties were dismissed as inadmissible by the Paris Court of Appeal on 9 January 2025. #

Sectors:
Capital Markets & Trading
Topics:
Market Abuse / SurveillanceReporting & Disclosure
All Firms
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🇫🇷 AMF Enforcement high

The AMF Enforcement Committee fines an issuer and two of its former directors at the time of the facts for market manipulation by disseminating false or misleading information. It also fined one of the directors for insider trading breaches

Sanctions & settlements Disclosure Obligations Professional investors The AMF Enforcement Committee fines an issuer and two of its former directors at the time of the facts for market manipulation by disseminating false or misleading information. It also fined one of the directors for insider...

AI Analysis

The AMF Enforcement Committee imposed fines on an issuer and two former directors for market manipulation via dissemination of false or misleading information, with an additional fine on one director for insider trading violations. This enforcement action underscores the AMF's rigorous enforcement of market abuse rules under the Market Abuse Regulation (MAR), serving as a stark reminder of personal and corporate liability for disclosure failures and privileged information misuse. Compliance teams must prioritize robust controls to mitigate similar risks, as such violations erode market integrity and investor trust. #

Sectors:
Capital Markets & Trading
Topics:
Market Abuse / SurveillanceReporting & Disclosure
All Firms
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🇫🇷 AMF Warning high

The AMF reminds retail investors to be extremely vigilant regarding Immediate Connect's fraudulent investment offer

Warning Savings protection Warning Forex and binary options Crypto-assets The AMF reminds retail investors to be extremely vigilant regarding Immediate Connect's fraudulent investment offer

Sectors:
Banking & CreditInvestment ManagementCrypto & Digital Assets
Topics:
Consumer Protection / ConductAML / Financial CrimeAuthorisation & Licensing
Crypto ExchangeFintechAll Firms
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🇫🇷 AMF News high

AMF and Banque de France call for a well-anticipated move to T+1 Settlement Cycle

Regulatory developments Post-trading infrastructures Market infrastructures Cooperation Journalists AMF and Banque de France call for a well-anticipated move to T+1 Settlement Cycle

Sectors:
Banking & CreditCapital Markets & TradingInvestment Management
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingMarket Abuse / Surveillance
BankBroker DealerAsset Manager
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🇫🇷 AMF Enforcement high

AMF Enforcement Committee fines an asset management company and its directors for breaches of their professional obligations

Sanctions & settlements professional obligations Journalists Investment management companies AMF Enforcement Committee fines an asset management company and its directors for breaches of their professional obligations

AI Analysis

The AMF Enforcement Committee fined asset management company M Capital Partners €200,000 and its directors Rudy Secco (€70,000) and Stéphanie Minissier (€35,000) on 31 December 2025 for breaches of professional obligations spanning August 2019 to December 2023, including unauthorized investment services, deficient investment processes, conflicts of interest failures, and inadequate AML/CFT systems. This decision underscores AMF's focus on operational robustness and personal accountability in asset management, serving as a regulatory warning for firms to strengthen internal controls or face escalating sanctions. #

Sectors:
Investment Management
Topics:
AML / Financial CrimeSenior Managers / GovernanceConsumer Protection / Conduct
Asset Manager
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🇫🇷 AMF News

Notification forms for the cross-border exercise of the activities of passemanagement companies, and the marketing of UCITS and AIFs: the AMF updates its doctrine

Asset management Notification forms for the cross-border exercise of the activities of passemanagement companies, and the marketing of UCITS and AIFs: the AMF updates its doctrine

Sectors:
Investment ManagementWealth & Private Banking
Topics:
Authorisation & LicensingReporting & Disclosure
Asset ManagerWealth Manager
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🇫🇷 AMF News

The Autorité des Marchés Financiers (AMF) publishes the findings of three supervisory initiatives on sustainable finance

Sustainable Finance Asset management Other professionals Journalists Investment management companies The Autorité des Marchés Financiers (AMF) publishes the findings of three supervisory initiatives on sustainable finance

Sectors:
Investment ManagementCapital Markets & TradingWealth & Private Banking
Topics:
ESGReporting & DisclosureAuthorisation & Licensing
Asset ManagerWealth ManagerAll Firms
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🇫🇷 AMF Consultation medium

The AMF publishes the summary of responses received to its Discussion Paper on Decentralised Finance

Crypto-assets Innovation The AMF publishes the summary of responses received to its Discussion Paper on Decentralised Finance

AI Analysis

The Autorité des Marchés Financiers (AMF) has published a summary of stakeholder responses to its June 2023 Discussion Paper on Decentralised Finance (DeFi), analyzing regulatory challenges posed by automated, decentralized crypto-asset activities. This matters for compliance professionals as it signals the AMF's ongoing commitment to developing a balanced DeFi framework amid MiCA's implementation, potentially shaping future supervision of decentralized protocols while emphasizing investor protection and innovation. #

Sectors:
Crypto & Digital AssetsCapital Markets & TradingInvestment Management
Topics:
Authorisation & LicensingConsumer Protection / ConductAML / Financial Crime
Crypto ExchangeFintechAsset Manager
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🇫🇷 AMF Warning high

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 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

Sectors:
Banking & CreditInvestment ManagementCrypto & Digital Assets
Topics:
Consumer Protection / ConductAuthorisation & Licensing
BankBroker DealerCrypto Exchange
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🇫🇷 AMF Warning high

The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Consumer Protection / ConductAuthorisation & Licensing
Asset ManagerWealth ManagerFintech
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