Consumer Protection / Conduct regulatory updates from France.
We track 412 Consumer Protection / Conduct updates from France regulators, published by AMF. The archive covers 212 warnings, 158 news items and 32 enforcement actions. Most recent update: September 2026. Coverage runs from 2013 to 2026.
Asset management The AMF publishes a summary of its SPOT inspections on telephone conversation recording at asset management companies
Why this matters
This is a published summary of thematic inspections conducted by the AMF on telephone conversation recording practices at five asset management companies. The content identifies compliance expectations, good practices (e.g., five-year retention, staff training, quarterly sampling), and poor practices (e.g., lack of...
Mediation Annual report Retail investors Professional investors Journalists The Ombudsman publishes his 2025 Annual Report
Why this matters
This is an informational annual report from the AMF Ombudsman documenting 2025 dispute statistics and trends. It reveals significant increases in referrals across multiple product categories (PEAs up 150%, crowdfunding up 1,062%, crypto-assets up 38%), with notable conduct issues around transfers, withdrawal delays,...
Warning Warning Crypto-assets Savings protection The AMF warns retail investors about the growing number of scams involving fake news articles promoting the merits of pseudo get-rich-quick opportunities
Why this matters
The AMF has issued a substantive consumer protection warning identifying a specific fraudulent trading platform (BitKeltTrade) and nine associated fake news websites impersonating legitimate French media. The warning includes blacklist entries, specific URLs, and guidance on vigilance.
Institutional Annual report Marketing Financial products Savings protection Other professionals Retail investors Journalists Investment management companies Listed companies and issuers The AMF and ACPR...
Why this matters
Annual report from AMF-ACPR Joint Unit covering 2025 activities. Primary focus on consumer protection against scams and misleading advertising, structured products market analysis, sustainability preferences implementation, and marketing practice monitoring.
Investment advice MiCA Asset management Advice on crypto-assets: the AMF updates its doctrine in relation to FIAs
Why this matters
AMF updates doctrine on crypto-asset advice services following MiCA Regulation implementation. Financial Investment Advisers (FIAs) now require mandatory CASP authorization to provide crypto-asset advice. This is informational guidance clarifying regulatory requirements and compliance obligations for affected firms.
Derivatives or structured products Marketing Retail investors Journalists Investment management companies The ACPR and AMF Joint Unit publishes its analysis on the distribution, fees and performance of structured products
Why this matters
Joint ACPR-AMF analysis of structured products distribution, fees, and performance. Identifies compliance gaps in product governance, target market definitions, and fee disclosure. Informational regulatory guidance with supervisory expectations for professionals distributing complex products to retail investors.
Sanctions & settlements professional obligations Other professionals Journalists Investment management companies The AMF Enforcement Committee fines a financial investment advisor and its two directors for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee has sanctioned French financial investment advisor **Financière Fonds Privés** and its two senior managers for (i) carrying out unauthorised **non‑guaranteed placement** activity, (ii) misrepresenting adviser **independence** while receiving issuer remuneration, and (iii) failing to provide mandatory suitability and cost disclosures between January 2021 and October 2024.
This decision reinforces AMF expectations for French financial investment advisors (conseillers en investissements financiers – CIF) around strict limits of their regulatory status, independence disclosures, conflicts of interest management, and formalisation of investment advice.
Key dates
January 2021
- Start of the period during which Financière Fonds Privés is found to have committed unauthorised placement and advisory breaches
October 2024
- End of the factual period examined by the AMF Enforcement Committee for the identified breaches
TBD (post‑21 July 2026)
- Potential appeal phase before the Conseil d’État; the decision indicates that an appeal may be lodged, so firms should monitor for any subsequent case law impacting interpretation of CIF professional obligations
21 July 2026
- AMF Enforcement Committee decision imposing fines of €100,000 on Financière Fonds Privés, €70,000 on Pierre‑Michel Deléglise, and €40,000 on Thierry de Chambure, and attributing all breaches to the two senior managers
28 July 2026
- Public announcement of the decision via AMF news release
Suggested considerations
Review the firm’s regulatory status (CIF versus investment services provider) and ensure that any placement or capital‑raising activities are within authorised limits; discontinue or re‑authorise any non‑guaranteed placement services currently carried out under CIF status.
Conduct a comprehensive mapping of all services and activities (advisory, marketing, introductions, distribution) to confirm that none constitute regulated investment services (e.g., non‑guaranteed placement) without the requisite AMF/ACPR authorisation.
Inventory all remuneration flows from issuers and third parties, including commissions, retrocessions and fees, and assess whether they are compatible with any independence claims and MiFID II inducements rules; remove or re‑label “independent” branding where issuer remuneration is received.
Update client‑facing documentation (engagement letters, brochures, websites, emails) to provide clear, accurate and non‑misleading information on adviser independence, remuneration model, and any relationships with issuers or introducers.
Implement or enhance procedures to ensure a written suitability statement is produced and delivered to clients for each piece of investment advice, documenting client profile, recommended products and rationale; integrate this into advisory workflows and record‑keeping.
What changed
- Financial investment advisors must not conduct non‑guaranteed placement services (service de placement non garanti) such as actively seeking subscribers on behalf of issuers, unless they hold the...
Firms that present themselves as independent advisors must not receive remuneration (direct or indirect) from product issuers whose instruments they recommend, unless permitted under MiFID II/French...
When claiming independence, firms must provide accurate, clear and non‑misleading information on the nature of their independence, remuneration model, and any relationships with issuers or...
Financial investment advisors must issue a written suitability statement formalising the investment advice provided, setting out the client’s profile, the recommended products, and the reasons why...
Pre‑contractual documentation must include full information on costs, fees and remuneration, covering both the advised investment and any business introducer partners; omission of these disclosures...
Compliance impact
Non‑compliance with CIF professional obligations on authorised activities, independence, suitability documentation and cost disclosures can lead to six‑figure fines, potential bans from advisory activity, and direct personal sanctions on senior managers.
Supervision Europe & international Markets Journalists Investment management companies Listed companies and issuers From design to delivery: The AFM and the AMF identify five enablers for effective EU-level market supervision
Marketing Disclosure Obligations MIFID Investment advice Mystery shopping visits to bank branches: the AMF calls on professionals to improve the quality of client questioning and the presentation of fees
Why this matters
AMF mystery shopping campaign findings on banking advisors' compliance with MiFID II requirements regarding client questioning quality, fee presentation, and regulatory documentation. Informational regulatory update reporting on supervisory findings and calling for industry improvements in conduct practices.
Investing wisely Long term investment Equity Savings Plan Shares Periodic & ongoing disclosures The AMF publishes a study on the behaviour of retail investors in CAC 40 stocks in the age of social media
Why this matters
AMF research study on retail investor behavior in CAC 40 stocks influenced by social media. Informational content highlighting younger investors' and neo-brokers' responsiveness to social media signals over fundamental information.
Warning Savings protection Forex and binary options Retail investors Journalists The AMF and the ACPR warn the public against several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without...
Why this matters
Joint AMF and ACPR warning against 57 unauthorized entities offering Forex and crypto-asset derivatives in France. Provides blacklist of specific websites and emphasizes investor protection risks from unregulated operators.
Warning Miscellaneous assets Savings protection Retail investors Journalists The AMF is warning the public against several entities proposing to invest in miscellaneous assets without being authorized to do so
Why this matters
AMF warning against 7 unauthorized entities illegally offering miscellaneous asset investments (gold, diamonds, wine, watches). This is a consumer protection and licensing enforcement action targeting unauthorized investment intermediaries. High urgency due to active fraud prevention and public protection mandate.
Warning Savings protection Crypto-assets Retail investors Journalists Crypto-assets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
AMF public warning against 38 unauthorized crypto-asset service providers operating illegally in France. This is a consumer protection alert identifying blacklisted entities and directing the public to verify authorization through the official whitelist.
MiCA Other professionals Fintech Journalists Crypto-assets: the end of the Pacte law and European MiCA Regulation transitional period establishes a new role for the AMF
Why this matters
This is an informational news release from AMF announcing the end of the MiCA transitional period (July 1, 2026) and the mandatory shift from the French Pacte law regime to the European MiCA Regulation.
Forex and binary options Savings protection ESMA Public statement: ESMA reminds firms of existing rules and obligations under binary option measures amid growing popularity of prediction markets globally
Why this matters
ESMA public statement reminding firms of existing obligations regarding binary options and event contracts. Clarifies that event contracts qualifying as financial instruments fall under binary option product intervention measures and require investment firm authorization.
Risk and Trend Mapping Markets Fixed income Asset management Other professionals Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers ...
Why this matters
AMF's 2026 Markets and Risk Outlook is an informational regulatory publication identifying key systemic risks including geopolitical instability, cyber threats, AI vulnerabilities, and market concentration.
MiCA Other professionals Journalists The AMF announces the withdrawal of AUTOMATA France SAS’s registration as a digital asset service provider effective from 30 June 2026
Why this matters
AMF announcement of withdrawal of AUTOMATA France SAS's DASP registration effective 30 June 2026 due to unauthorized crowdfunding activity and failure of senior management to meet good repute/competence standards.
Investment advice Sustainable Finance The AMF has introduced a new methodology for document-based inspections of financial investment advisor
Why this matters
AMF announces new CORE inspection methodology for financial investment advisors with findings from 2025 campaigns. Key focus areas include cost/fee disclosure quality, sustainability preference collection, and AML/CFT compliance.
MiCA Investment services End of the MiCA transitional period: ESMA sets out its expectations of professionals and warns retail investors
Why this matters
This is an informational regulatory update from ESMA/AMF regarding the end of MiCA transitional period on 1 July 2026. It sets expectations for digital asset service providers (DASPs) regarding wind-down plans, authorisation requirements, and investor protections.
MiCA Financial services providers Europe & international ESMA Public statement: ESMA calls on unauthorised crypto-asset service providers to wind down orderly, while also safeguarding clients’ interests, as MiCA transitional period ends
Why this matters
ESMA public statement establishing mandatory wind-down requirements for unauthorised crypto-asset service providers (CASPs) following MiCA transitional period end on 1 July 2026.
Long term investment Shares Artificial intelligence Retail investors Journalists Special edition of the AMF Barometer: while artificial intelligence is still not widely used in investment practices, it is winning over more young investors
Why this matters
AMF publishes survey findings on AI adoption in investment practices among French retail investors. This is informational research highlighting generational differences in AI usage (11% overall, 19% under-35s) and perceived risks/benefits.
Annual report Institutional Other professionals Executive & other private individuals Retail investors Fintech Journalists Investment services providers Investment management companies Listed companies and issuers ...
Why this matters
AMF's 2025 Annual Report is an informational publication outlining regulatory priorities and activities. Key focus areas include market resilience, retail investor protection, cyber resilience, tokenization of financial assets, and MiCA crypto-asset regulation.
Sanctions & settlements Journalists The AMF Enforcement Committee fines two individuals for insider dealing breaches
AI Analysis
The AMF Enforcement Committee has sanctioned two individuals, Ytane Mamou and Elie Houri, a total of €50,000 for insider dealing related to a takeover of a listed company, based on trading in July 2021. The decision confirms and illustrates how the AMF infers possession and use of inside information from circumstantial indicators (transmission channels, atypical trading, timing, and weak explanations), which has direct implications for how firms design surveillance, control personal account dealing, and train staff and related persons.
Key dates
July 2021
- Period during which Mr Ytane Mamou purchased shares in the listed company on his own account, for his wife, and for his father, and when Mr Houri acquired shares following his cousin’s recommendation, prior to takeover-related announcements
20 May 2026
- AMF Enforcement Committee decision SAN‑2026‑04 is adopted, finding insider dealing by Mr Mamou and Mr Houri and imposing fines of €30,000 and €20,000 respectively
22 May 2026
- AMF publishes the news release summarising the Enforcement Committee decision and sanctions; appeal against the decision remains possible from this date in accordance with French procedural rules
Suggested considerations
Review and update MAR market abuse policies to explicitly cover the prohibition on recommending or inducing others to trade on the basis of inside information, including for non-staff related persons.
Enhance insider dealing surveillance scenarios to capture atypical trading patterns before takeover or M&A announcements, including trading by retail clients and accounts linked to employees’ family members where identifiable.
Tighten procedures for the management of inside information during corporate transactions (takeovers, mergers, acquisitions), including clear designation of insiders, controlled information flows, and logging of who is aware of pending deals.
Strengthen controls around potential transmission channels for inside information, including guidance and monitoring for staff who may informally share information with relatives or friends, and explicitly prohibit such behaviour in codes of conduct.
Provide targeted MAR training to staff, senior management, and high‑risk functions (M&A, corporate finance, strategy, legal, finance) that uses this case as an example of how the AMF infers insider dealing and the consequences for both insiders and relatives.
What changed
- The decision reiterates and operationalises the definition of “inside information” under the EU Market Abuse Regulation (MAR, Regulation (EU) No 596/2014), confirming that information relating to a...
The Enforcement Committee shows that it will infer possession and use of inside information from a combination of factors (plausible transmission channels, atypical trading patterns, timing around...
The decision confirms that the use of inside information through trading on own account and on the account of closely related persons (spouse, parent) will be treated as separate instances of misuse...
The Committee explicitly treats recommendations to invest made on the basis of inside information as a distinct form of insider dealing, exposing the recommender to sanctions even if they do not...
The ruling reinforces that relatives and close associates (here, cousins) who act on such recommendations can be sanctioned for insider dealing, even when they are not employees or insiders of the...
Compliance impact
Failure to prevent, detect, and report insider dealing exposes firms and individuals to substantial administrative fines, reputational damage, and potential criminal consequences under French law. The AMF’s reliance on circumstantial evidence in this case raises the bar for firms’ surveillance, documentation, and staff training, since weak explanations and poor records can be interpreted against market participants.
Collective investments Marketing Financial products Retail investors Journalists The AMF unveils its 2026-2028 financial education plan to boost women’s investment
Why this matters
AMF announces a 2026-2028 financial education plan targeting women's underrepresentation in investment markets. This is informational content about regulatory initiatives in consumer protection and financial literacy.
Cooperation Europe & international Equity Journalists Listed companies and issuers AMF Québec, OSC and AMF France enter into an agreement to support cross-listing of securities in Canada and France
Why this matters
This regulatory update announces an agreement between securities regulators in Canada and France to support the cross-listing of securities between the two countries.
Savings protection Warning Retail investors Journalists The AMF confirms the resumption of trading in Rapid Nutrition shares
Why this matters
This regulatory update from the AMF relates to suspected market manipulation and price manipulation of the shares of Rapid Nutrition, which led to the suspension of trading in those shares.
Sanctions & settlements professional obligations Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor and its directors for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee sanctioned financial investment advisor Kerdiz Finance et Conseil with a €300,000 fine and its directors Anthony Finck and Marc Peuvrier with €75,000 fines each, plus a 5-year ban on advisory activities, for multiple breaches of professional obligations from 2020-2023. This case underscores AMF's strict enforcement against unauthorized product marketing, conflict of interest mismanagement, product governance failures, and AML shortcomings, serving as a warning for advisors to prioritize client best interests and regulatory compliance. It matters because it highlights personal liability for directors and escalating penalties for systemic procedural lapses.
Key dates
1 January 2020
28 June 2023; Period of breaches investigated
1 April 2026
Date of AMF Enforcement Committee decision imposing fines and 5-year ban
Suggested considerations
Immediate review: Audit marketing materials, website, and client communications for accurate authorization claims; cease any unapproved representations.
Enhance procedures: Update conflict of interest policies to fully identify/mitigate risks from promoter ties; implement robust product governance collecting issuer details (e.g., asset managers, depositaries, marketing eligibility in France).
Product due diligence: For all recommended securities/offers, verify French marketing authorization (e.g., AMF registration, prospectus, AIFMD passport); document high-risk features like loss exceeding contributions.
AML/CFT strengthening: Ensure full compliance with due diligence and inspector cooperation; conduct gap analysis against AMF guidelines.
Training and governance: Train directors/staff on personal liability; test procedures via internal audits.
What changed
This is an enforcement decision, not a new regulation, but it reinforces existing AMF requirements under French financial advisor rules (e.g., derived from MiFID II and AIFMD implementations):
Accurate representation: Advisors must not misrepresent authorization status or claim unapproved services like investment services provision.[Source URL:...
Conflict of interest management: Procedures must identify and mitigate risks from commercial/ownership ties (e.g., to Vivat Multitalent group), beyond mere shareholding disclosures.
Product governance: Collect and review product information to ensure investor protection; verify asset managers/depositaries for securities.
Marketing limits: Prohibit advising prohibited securities (e.g., Multitalent AG bonds without French authorization) or high-risk offers like Guyane Agricole exceeding initial contributions.
Compliance impact
Urgency: High – This demonstrates AMF's pattern of heavy fines (€300k+ firm, €75k personal) and long bans (5 years) for procedural failures, with director accountability. It matters amid rising enforcement on unauthorized AIF/alternative product marketing (see related cases), risking similar sanctions for non-EU promotions; firms should prioritize audits now to preempt inspections.
Markets Europe & international Cooperation FMSB signs Consultation Agreement with Autorité des Marchés Financiers
AI Analysis
The Autorité des Marchés Financiers (AMF) and Financial Markets Standards Board (FMSB) have signed a Consultation Agreement to enhance collaboration on developing guidance for wholesale Fixed Income, Currencies, and Commodities (FICC) markets, allowing AMF to provide expertise on FMSB drafts. This matters for compliance professionals as it signals regulatory endorsement of FMSB's non-binding standards, potentially elevating their influence on market conduct expectations in France and Europe, particularly as Paris grows as a trading hub. https://www.amf-france.org/en/news-publications/news/fmsb-signs-consultation-agreement-autorite-des-marches-financiers
Key dates
Ongoing from 2026
- Operational oral updates on FMSB workplan/priorities as needed. https://www.amf-france.org/sites/institutionnel/files/private/2026-03/fmsb-amf-accord-2026.pdf
30 March 2026
- Agreement signed and announced, marking effective date of collaboration (today's date). https://www.amf-france.org/en/news-publications/news/fmsb-signs-consultation-agreement-autorite-des-marches-financiers
Annually (starting 2026)
- FMSB provides high-level oral update to AMF on strategy progress
At least annually (starting 2026)
- FMSB Chair/CEO discusses strategy refresh with AMF for input
Suggested considerations
Review and monitor FMSB's 2026 Workplan for upcoming Standards/Statements, noting AMF-influenced drafts (e.g., via FMSB committees and buy-side forum). https://fmsb.com/wp-content/uploads/2026/01/FMSB-2026-Workplan_Final.pdf
Benchmark internal FICC practices against FMSB guidance, especially vulnerability areas like market structures or conduct.
Engage with FMSB membership or working groups if applicable, to align with emerging standards endorsed by AMF.
Track AMF/FMSB updates for Paris-specific FICC developments. https://fmsb.com/fmsbsignsconsultationagreementwithamf/
What changed
This is not a regulatory change imposing new rules but a bilateral Consultation Agreement outlining cooperation mechanisms. Key elements include: AMF input on FMSB's annual strategy refresh via discussions with FMSB Chair/CEO; annual high-level oral updates on FMSB strategy progress; operational updates on FMSB workplan/priorities; and AMF's ability to review and challenge draft FMSB guidance materials and publications for wholesale FICC markets. The agreement is non-binding, personal to the parties, and amendable only by mutual written consent, with no third-party rights.
Compliance impact
Urgency: Low - This agreement introduces no direct obligations, deadlines, or penalties; it fosters indirect influence via enhanced credibility of FMSB's voluntary standards in AMF-regulated markets. It matters for long-term conduct risk management in FICC, as firms ignoring FMSB guidance (now AMF-supported) may face heightened supervisory scrutiny, especially amid Paris's trading growth and AMF's 2026 priorities for resilient markets. https://zoominvest.fr/actualites/patrimoine/amf-des-priorites-2026-axees-sur-l-attractivite-l-innovation-et-la-securite-des-marches/iob24fnqfmfh258iwmxwwicy
Long term investment Shares ETF Retail investors Journalists The stock market attracted a record number of retail investors in 2025
Why this matters
This regulatory update from the AMF discusses a significant increase in retail investor participation in the French stock market, including a rise in the number of new investors, increased use of European investment service providers, and a trend towards younger investors.
Crypto-assets MiCA Crypto-assets: The AMF applies ESMA guidelines on the knowledge and competence of staff of crypto-asset service providers under MiCA
Why this matters
This regulatory update from the AMF applies ESMA guidelines on the knowledge and competence requirements for staff of crypto-asset service providers under the MiCA regulation.
Asset management Crowdfunding: the AMF reminds platforms of their complaint handling obligations
Why this matters
This regulatory update from the AMF focuses on the complaint handling obligations of crowdfunding service providers, which are relevant for investment management firms, broker-dealers, wealth managers, and banks that offer crowdfunding services.
Warning Savings protection MAR Retail investors Professional investors Journalists AMF requests extension to the RAPID NUTRITION share suspension
AI Analysis
The AMF has requested Euronext to extend the trading suspension of RAPID NUTRITION shares until April 10, 2026, due to ongoing suspicions of "pump and dump" market abuse under Article L. 420-10 of the Monetary and Financial Code. This enforcement action underscores the AMF's proactive market surveillance and highlights risks of unauthorized investment recommendations, urging investors to report evidence. Compliance professionals should note this as a signal of heightened scrutiny on manipulative practices in small-cap stocks like those on Euronext Growth.
Key dates
19 February 2026 Deadline
- Initial trading suspension requested by AMF until 13 March 2026 due to pump-and-dump suspicions
13 March 2026
- End of initial suspension period; AMF requests extension
10 April 2026
- New end date for extended trading suspension, or until further notice
Suggested considerations
Trading venues (e.g., Euronext): Implement and maintain suspension of RAPID NUTRITION shares until April 10, 2026, or AMF notice.
Firms under AMF jurisdiction: Review trading surveillance systems for pump-and-dump signals (e.g., aggressive social media/email pitches promising quick gains); ensure no facilitation of unauthorized recommendations.
Investors: Preserve all pitch documents (screenshots, emails, messages) and submit to AMF via Epargne Info Service platform or phone.
Compliance teams: Conduct immediate audits of client communications and holdings in similar volatile stocks; train staff on MAR obligations for disclosing positions in recommendations.
No new reporting deadlines, but proactive evidence submission is urged.
What changed
This is not a new regulation but an enforcement extension; no broad regulatory changes are introduced. Key elements include:
Extension of trading suspension from March 13, 2026, to April 10, 2026, to allow continued AMF analysis of price manipulation indicators.
Reiterated definition and warning on pump and dump schemes, involving unauthorized promotions without disclosure of promoters' holdings, leading to artificial price inflation followed by dumps.
Invocation of MAR (Market Abuse Regulation) principles, aligned with EU standards, emphasizing orderly market operations and investor protection.
Compliance impact
Urgency: High - This active enforcement on a live suspension (as of March 14, 2026, just post-initial period) signals AMF's aggressive stance on market abuse in retail-targeted small-caps, with potential for fines or further sanctions (e.g., prior AMF cases fined €850,000). Firms must act swiftly to mitigate exposure to similar schemes, as failure to detect/report could trigger secondary liability under MAR; impacts trading desks and surveillance functions directly.
Shares Asset management Post-trading infrastructures The AMF analyses the typology of participants on the French equity market over the past five years.
Why this matters
This regulatory update from the AMF analyzes the changes in the typology of participants in the French equity market over the past five years. It covers topics related to market surveillance, reporting, and consumer protection, which are relevant for asset managers, banks, and broker-dealers operating in the French...
Collective investments Marketing Financial products Other professionals Executive & other private individuals Journalists Investment services providers Investment management companies Listed companies and issuers ...
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) highlights persistent differences in investment behavior and attitudes between women and men, which is relevant for investment management and wealth management firms.
Supervision Sustainable Finance Marketing Journalists Investment services providers Investment management companies The AMF publishes the findings of its inspections on the consideration of client sustainability preferences
Why this matters
The article discusses the findings of AMF inspections on how investment services providers are considering client sustainability preferences in their advisory process, which is a new regulatory requirement under MiFID II. This is relevant for asset managers and wealth managers who provide investment advice.
Warning Savings protection Retail investors Professional investors Journalists Listed companies and issuers The AMF has required the suspension of RAPID NUTRITION shares and calls on investors to be vigilant
AI Analysis
The AMF has mandated the suspension of trading in RAPID NUTRITION shares (Euronext Growth Paris: ALRPD) from February 19, 2026, until March 13, 2026, due to indicators of "pump and dump" market manipulation, urging investors to exercise extreme caution against unauthorized high-upside recommendations. This enforcement action highlights AMF's proactive surveillance of market abuse in small-cap listings and serves as a reminder for firms to enhance client protection measures against boiler room tactics. It matters for compliance as it underscores heightened scrutiny on retail investor-facing activities amid volatile stock surges, like RAPID NUTRITION's 437% rise since January 1, 2026.[AMF publication]
Key dates
19 February 2026
Trading suspension begins; (effective from this trading session)
13 March 2026
Scheduled end of suspension; (inclusive, or earlier if market conditions allow via new AMF notice)
Suggested considerations
Investors: Preserve all solicitation evidence (screenshots, emails, messages) and report via AMF's Epargne Info Service (online or +33(0)1 5345 6200, Mon-Fri 9am-12:30pm).
Trading venues (Euronext): Implement and maintain suspension until lifted.
Firms/brokers:
- Suspend trading in RAPID NUTRITION shares.
Review client communications for unauthorized advice; block/blocklist suspicious patterns.
What changed
This is not a new regulation but an enforcement action under existing French financial markets and market abuse rules (e.g., EU Market Abuse Regulation - MAR, transposed via AMF oversight).
Trading suspension on Euronext at AMF's request due to suspected "pump and dump" (boiler room) practices, involving unauthorized recommendations promising rapid gains without disclosing promoters'...
No formal rule changes; reinforces prohibitions on market manipulation (Article 12 MAR), unlawful investment recommendations (MiFID II Article 24), and failure to disclose conflicts.
AMF's call for evidence collection emphasizes ongoing investigations into aggressive sales pitches via emails, messaging, or screenshots.[AMF publication]
Compliance impact
Urgency: High - Immediate trading halt requires system updates today (Feb 19, 2026); ongoing AMF probe risks fines/sanctions under MAR for non-compliant surveillance or advice. Matters due to retail investor exposure in volatile Euronext Growth stocks, potential for follow-on enforcement (e.g., against unauthorized advisors), and signal of intensified AMF monitoring amid 437% surges, amplifying conduct risk for client-facing firms.[AMF publication]
Institutional Markets Journalists The AMF awards its 2025 prize for young researchers in economics to Alexandre Madelaine
Why this matters
This news release announces the AMF's 2025 prize for young researchers in economics, awarded to Alexandre Madelaine. It covers topics related to financial information disclosure, short selling, and retail investor behavior, which are of interest to investment managers, brokers, and fintech firms.
Institutional Regulatory developments Financing the economy Other professionals Journalists Listed companies and issuers The AMF awards its Marie-Josèphe-Vanel thesis prize in law to Vincent Ramonéda
Why this matters
This news release announces the AMF's new thesis prize in law, which aims to promote legal research in financial regulation. It recognizes outstanding academic work relevant to the AMF's mission of investor protection and market oversight. The content is informational in nature.
Derivatives or structured products Marketing MIFID The AMF publishes a working group study on structured products
Why this matters
This regulatory update from the AMF focuses on good practices for improving the clarity and understanding of structured products distributed to retail investors in France.
Artificial intelligence Innovation Fintech Journalists Investment services providers Investment management companies Listed companies and issuers A study by the AMF finds widespread levels of adoption in artificial intelligence by French...
Why this matters
The article discusses the widespread adoption of artificial intelligence by French financial market participants, including asset managers, banks, and fintech/crypto firms. This is a high-priority topic given the technology and consumer protection implications.
Strategy Supervision Institutional Other professionals Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF sets its priorities for 2026 for...
Why this matters
This regulatory update from the AMF sets priorities for 2026 related to deeper, safer and more resilient financial markets open to innovation. It covers topics relevant to various financial firms including asset managers, broker-dealers, banks, and fintechs, such as consumer protection, operational resilience, and...
Sanctions & settlements professional obligations Journalists Investment management companies The 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 non-operational investment systems, deficient AML/CFT procedures, inadequate conflict of interest management, and poor due diligence traceability. This decision underscores AMF's focus on operational robustness in asset management, with personal liability for senior managers, signaling heightened enforcement risk for similar firms. Compliance teams must prioritize reviewing internal procedures to avoid comparable sanctions, as appeals are possible but do not suspend obligations.
Key dates
August 2019
December 2023; - Period of breaches investigated
31 December 2025
- AMF Enforcement Committee decision date imposing fines on M Capital Partners and directors
08 January 2026
- Public news release date for the decision
Suggested considerations
Conduct immediate gap analysis of investment processes for operationality, traceability, and precision in allocation rules.
Enhance AML/CFT systems: Update risk mapping, procedures, and due diligence on fund assets/liabilities; ensure systematic application.
Review conflict of interest frameworks for identification, prevention, and management; document controls rigorously.
Senior managers: Demonstrate personal oversight via governance records to mitigate attribution of firm breaches.
Audit marketing materials, fee retrocessions, and valuation procedures (e.g., for real estate or experts) against AMF standards.
What changed
This is an enforcement action, not a new regulation, but it reinforces existing AMF requirements under the French Monetary and Financial Code for asset managers to maintain operational procedures.
Imprecise investment allocation processes lacking traceability, rendering systems non-operational.
Failure to fulfill conflict of interest identification, prevention, and management obligations.
Deficient AML/CFT systems with inadequate due diligence on fund assets/liabilities.
These align with prior AMF expectations for "honest, fair, and professional" conduct with skill, care, and...
Compliance impact
Urgency: High - This reflects a pattern of 2025-2026 AMF fines on asset managers for operational/AML failures (e.g., €1.3M on Altaroc 15 Sep 2025; €400k on Eternam 9 Sep 2025), indicating intensified scrutiny and personal accountability. Firms risk multimillion fines and reputational damage; immediate audits are essential pre-audit cycles, especially with appeals highlighting ongoing litigation risk.
Asset management AIFMD UCIT AIFM II: the AMF updates its doctrine to make introducing liquidity management tools easier for UCITS and AIFs
Why this matters
This regulatory update from the AMF relates to changes in the doctrine around introducing liquidity management tools for UCITS and AIFs, which are relevant for investment management firms and capital markets participants.
Warning Forex and binary options Warning Savings protection The AMF and the ACPR warn the public against several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so
Why this matters
This warning from the AMF and ACPR is targeted at entities offering unregulated forex and crypto-asset derivative investments in France without proper authorization. This poses risks to consumers and requires immediate attention from the relevant financial firms.
Warning Warning Savings protection Crypto-assets Crypto-assets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator AMF about unauthorized entities operating in the crypto-asset space, which is relevant for crypto exchanges, fintechs, and other firms involved in the crypto industry. It relates to consumer protection and the need for proper licensing and authorization.
Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several entities proposing to invest in miscellaneous assets without being authorized to do so
Why this matters
This warning from the AMF relates to entities proposing to invest in miscellaneous assets without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Long term investment Shares Artificial intelligence Retail investors Journalists AMF 2025 Barometer: in search of autonomy, many French people turn to artificial intelligence when they want to invest
Why this matters
This regulatory update discusses how French retail investors are increasingly turning to artificial intelligence when making investment decisions, which is relevant for investment managers, wealth managers, and fintech firms that provide AI-powered investment services.
MiCA Crypto-assets Financial products Marketing Journalists Investment management companies Listed companies and issuers The AMF adapts its policy on complex financial products in response to the rise of crypto-assets
Why this matters
This regulatory update from the AMF (French financial markets authority) relates to the adaptation of its policy on complex financial products in response to the rise of crypto-assets. This impacts crypto exchanges, asset managers, and fintech firms operating in the crypto/digital assets space.
Mediation Appointment Institutional Other professionals Executive & other private individuals Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers ...
Why this matters
This regulatory update announces the appointment of a new Ombudsman at the French financial markets regulator, the Autorité des Marchés Financiers (AMF). This is an institutional change that impacts various financial services firms under the AMF's jurisdiction, including asset managers, broker-dealers, wealth...
Sustainable Finance MIFID Investment advice Long term investment Other professionals Journalists Investment services providers Investment management companies The ACPR and the AMF present their joint approach helping...
Why this matters
This regulatory update from the ACPR and AMF in France relates to the joint approach they are presenting to help professionals take into account clients' sustainability preferences when providing investment advice. This impacts investment management firms, wealth managers, and banks that provide investment services.
Sanctions & settlements Anti-money Laundering Governance Investment advice Other professionals Journalists Investment services providers The AMF Enforcement Committee fines a financial investment advisor and its two directors a total of €2.5...
AI Analysis
The AMF Enforcement Committee fined financial investment advisor Carat GP €300,000 and its directors Jimmy Guinet (€200,000) and Sébastien Renaud (€2 million) a total of €2.5 million on 5 November 2025, imposing permanent bans on Carat GP and Renaud, and a 10-year ban on Guinet, for breaches including inadequate documentation, failure to act honestly and professionally in clients' interests, AML failures, lack of conflict detection systems, and insufficient cooperation with inspectors. This decision marks the first time the Committee held directors personally liable for breaches, signaling heightened personal accountability for senior managers in French investment firms. It matters as it reinforces AMF's focus on governance, AML, and client protection, with severe sanctions serving as a deterrent amid rising enforcement trends.
Key dates
1 January 2019 to 30 June 2024
- Relevant period of breaches for Carat GP
5 November 2025
- AMF Enforcement Committee decision issued, imposing fines and bans
6 November 2025
- French version of press release published
Suggested considerations
Audit documentation: Ensure all investment advice is fully documented and compliant; implement traceability for proposals.
Strengthen governance: Deploy systems to detect/prevent conflicts, especially manager-led undocumented investments; enforce annual director training.
Enhance AML/CFT: Prohibit personal receipt of client funds; conduct KYC and transaction monitoring.
Improve inspection readiness: Train staff for diligent, honest cooperation with AMF; maintain secure archives.
This is an enforcement action, not a regulatory change, but it clarifies and strengthens application of existing AMF rules for conseillers en investissements financiers (CIFs) under French...
Obligation to act honestly, fairly, and professionally in clients' best interests, including systems to prevent managers exploiting positions for undocumented investments.
AML/CFT compliance, including prohibitions on directors receiving client funds in personal accounts.
Annual training for directors and diligent cooperation with AMF inspections.
Compliance impact
Urgency: High - Recent (November 2025) decision with record €2.5m fines and novel personal director liability elevates risks for CIFs and managers, amid AMF's pattern of escalating sanctions on governance/AML failures (e.g., similar cases in 2019-2025). Firms must act promptly to avoid parallel enforcement, as breaches spanned years and AMF emphasizes educational deterrence through decisions.
Long term investment Savings protection Investing wisely Retail investors Journalists The Autorité des Marchés Financiers is running a new financial education campaign aimed at young investors
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) in France is focused on a new financial education campaign aimed at young investors. This falls under the topics of consumer protection, financial education, and retail investors.
Shares ETF Fixed income Individual investors remain active on the markets in the 3rd quarter of 2025
Why this matters
This news update indicates that individual investors remain active in the markets, which is relevant for asset managers, broker-dealers, and wealth managers who serve this client segment. It touches on consumer protection, market abuse, and reporting/disclosure topics that are important for these firms.
Warning Warning Savings protection The AMF warns the public against fraudulent communications offering investment services impersonating Financière du Nogentais
Why this matters
This is a warning from the AMF (French financial regulator) about fraudulent communications impersonating a specific investment firm, Financière du Nogentais. This impacts investment management and wealth management firms, and relates to consumer protection and authorization/licensing issues.
Europe & international Sanctions & settlements Publication of the annual ESMA Report on Sanctions and Measures for 2024: AMF imposes the highest amounts in Europe
AI Analysis
The ESMA Annual Report on Sanctions and Measures for 2024, published on 16 October 2025, aggregates enforcement data from EEA national competent authorities (NCAs), highlighting that the French AMF imposed the highest total sanctions at €29.4 million—nearly a third of the EEA's €100 million aggregate—primarily under MAR and MiFID II. This matters for compliance professionals as it signals intensified enforcement focus on market abuse and investor protection across Europe, with France leading in both fine amounts and settlement usage, underscoring a trend toward higher penalties and agile resolution mechanisms.
Key dates
16 October 2025
- ESMA publishes second consolidated Annual Sanctions Report for 2024 data
What changed
This is not a new regulation but a retrospective report documenting 2024 enforcement trends; no direct regulatory changes are introduced. Key observations include a significant rise in total fine amounts to over €100 million (from €71 million in 2023) despite stable sanction volumes (975 vs. 976), with MAR (377 sanctions, €45.5 million) and MiFID II/MiFIR (294 sanctions, €44.5 million) dominating. Notable shifts: increased settlement usage (94 agreements for €21.9 million, 22% of total), with AMF at 18% of its penalties via settlements (vs.
Compliance impact
Urgency: medium – This report reinforces existing rules without new requirements, but signals escalating financial penalties (up 40% YoY) and settlement trends, pressuring firms to prioritize MAR/MiFID compliance to avoid outsized AMF-style fines, especially in France or cross-EEA operations. Matters for resource allocation toward surveillance and remediation, as NCAs like AMF demonstrate willingness for multimillion-euro penalties.
Crypto-assets Investment services Financial services providers The Financial Stability Board and the International Organisation of Securities Commissions publish two reports assessing the implementation of recommendations on crypto-asset and stablecoin activities
Why this matters
This regulatory update is focused on the implementation of recommendations related to crypto-assets and stablecoins, which are relevant for crypto exchanges, banks, and fintech firms operating in the digital asset space.
Savings protection Warning Other professionals Executive & other private individuals Retail investors Professional investors Journalists Investment management companies Listed companies and issuers The AMF has...
AI Analysis
The AMF enforced a trading suspension on MEXEDIA S.p.A. shares on Euronext from 11 September 2025 to 30 September 2025 due to indicators of **pump and dump** market abuse, urging investors to exercise extreme caution against unauthorized high-upside recommendations. This enforcement action underscores the AMF's proactive market surveillance and highlights ongoing risks of manipulative practices in listed equities, serving as a reminder for firms to bolster internal controls against such schemes. Compliance teams should note this as a signal of heightened regulatory scrutiny on price manipulation, potentially informing future enforcement trends.
Key dates
11 September 2025
- Trading suspension in MEXEDIA shares effective at end of session
12 September 2025
- AMF press release published (French version)
30 September 2025
- Scheduled end of suspension period (inclusive)
1 October 2025
- Resumption of trading confirmed; pre-suspension orders purged
Suggested considerations
Trading venues (e.g., Euronext): Immediately implement and maintain suspensions upon AMF request; purge affected orders.
Investment firms and brokers: Screen for and block client orders in suspended securities; monitor for pump-and-dump indicators in communications.
All surveilled firms: Enhance transaction surveillance for manipulation signals (e.g., unusual volume/price spikes); report suspicions to AMF.
Investors and firms assisting them: Retain evidence of suspicious pitches (screenshots, emails) and submit to AMF via Epargne Info Service (https://www.amf-france.org/en/request-information or +33(0)1 53 45 62 00).
What changed
This is an enforcement action rather than new regulatory changes; no legislative or rule amendments are introduced. Key elements include:
AMF's invocation of financial markets and market abuse regulations to mandate trading suspension via Euronext.
Explicit warning on pump and dump tactics, defined as unauthorized promotions inflating share prices for insider sales, leading to investor losses.
Follow-up resumption of trading on 1 October 2025 after suspension ended, with continued vigilance calls.
Compliance impact
Urgency: Medium - This is a resolved, case-specific enforcement (suspension lifted 1 October 2025), not imposing new firm-wide rules, reducing immediate action needs as of January 2026. It matters for market abuse surveillance programs, signaling AMF's focus on pump-and-dump in equities, which could elevate fines or scrutiny in audits; firms should review systems for similar indicators to mitigate risks in ongoing operations.
Warning Savings protection Warning Forex and binary options The AMF and the ACPR warn the public against the activities of several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in the unregulated foreign exchange (Forex) market and crypto-asset derivatives in France.
Warning Warning Crypto-assets Savings protection Crypto-assets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator about unauthorized entities operating in the crypto-asset space, which relates to consumer protection and licensing requirements for crypto firms.
Savings protection Warning Retail investors Journalists Listed companies and issuers AMF announces resumption of trading in Mexedia shares
Why this matters
This regulatory update from the AMF (French financial markets regulator) announces the resumption of trading in Mexedia shares, which is relevant for banking, capital markets, and wealth management firms.
Warning Identity theft The Autorité des marchés financiers (AMF) is warning professionals about the extensive fraudulent and malicious use of its name engaging people into running a malicious computer program.
Why this matters
This warning from the AMF relates to the fraudulent and malicious use of its name to engage people into running malicious computer programs, which poses significant risks around financial crime, consumer protection, and operational resilience for a range of financial firms.
Long term investment Sustainable Finance Retail investors Journalists Investment management companies Listed companies and issuers Sustainable finance: retail investors have higher expectations of their financial advisors
Why this matters
This regulatory update discusses how retail investors have higher expectations of their financial advisors when it comes to sustainable finance. This impacts investment management firms, wealth managers, and banks that provide advisory services to retail clients.
Warning Savings protection Warning The AMF warns the public about group chats providing tips on shares
Why this matters
This warning from the AMF is targeted at retail investors participating in group chats that provide investment tips, which could constitute market abuse and unauthorized investment advice. It is relevant for asset managers, wealth managers, and broker-dealers that serve retail clients.
Sanctions & settlements professional obligations Journalists Investment management companies The AMF Enforcement Committee fines an asset management company for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined an asset management company €400,000 on 9 September 2025 for multiple breaches of professional obligations, including deficient marketing disclosures, inadequate conflict of interest systems, non-operational valuation procedures, failure to oversee external experts, and deficient AML/CFT systems in managing AIFs and club deals. This enforcement action underscores the AMF's focus on operational robustness and investor protection in asset management, serving as a critical reminder for firms to ensure procedures are not only documented but fully operational and effective. Compliance teams should review this to benchmark internal controls, as it highlights personal accountability for senior managers and recurring AMF priorities in recent sanctions.
Key dates
9 September 2025
- AMF Enforcement Committee decision imposing €400,000 fine on Eternam for breaches
Suggested considerations
Conduct immediate gap analysis of investment procedures, marketing materials, conflict of interest policies, valuation processes, external expert oversight, and AML/CFT systems to ensure they are operational, documented, and traceable.
Verify investor disclosures on fee retrocessions are comprehensive and understandable; update marketing materials for AIFs and club deals accordingly.
Formalize independent valuer roles and implement monitoring for external experts per activity programs.
Enhance AML/CFT due diligence on fund assets/liabilities, including risk mapping and procedure testing.
Senior managers: Document personal oversight of compliance; train on attribution of breaches.
What changed
This is an enforcement decision, not a regulatory change introducing new rules; it enforces existing professional obligations under AMF jurisdiction for asset managers.
Providing comprehensive, accurate, and understandable information to investors on fee retrocessions to distributors in AIF marketing.
Implementing effective systems for preventing and managing conflicts of interest, particularly in joint investments like club deals classified as Other AIFs.
Maintaining operational procedures for valuing real estate assets, including formalizing independent valuer work.
Adhering to programs of activity for selecting, evaluating, overseeing, and periodically assessing external experts.
Compliance impact
Urgency: High – This recent (2025) decision aligns with a pattern of AMF fines on asset managers for similar operational and AML failures (e.g., €1.3M on Altaroc Partners for lacking investment procedures and AML due diligence; €200K+ on M Capital for non-operational systems and AML deficiencies). It matters because AMF increasingly attributes breaches to individuals, escalating personal liability, and emphasizes "operational" procedures over mere documentation—firms with AIFs/club deals face elevated scrutiny amid rising enforcement volume.
MiCA Other professionals Fintech Journalists Listed companies and issuers The French, Austrian and Italian markets authorities call for a stronger European framework for crypto-asset markets
Why this matters
This regulatory update from the French, Austrian and Italian markets authorities calls for a stronger European framework for crypto-asset markets, which impacts crypto exchanges, fintechs and banks operating in this space. It covers topics related to authorization, consumer protection and prudential requirements.
Savings protection Withdrawal of KOREGRAF's authorisation as a crowdfunding service provider
Why this matters
This regulatory update relates to the withdrawal of authorization for a crowdfunding service provider, which impacts firms in the banking, investment management, and wealth management sectors. It involves topics of authorization/licensing and consumer protection.
Warning Warning Miscellaneous assets Savings protection The AMF is warning the public against several entities proposing to invest in miscellaneous assets without being authorized to do so
Why this matters
This warning from the AMF relates to entities proposing to invest in miscellaneous assets without proper authorization, which poses risks to consumers and their savings. It is relevant for investment managers, wealth managers, and broker-dealers that may be involved in such activities.
Warning Savings protection Warning Forex and binary options The AMF and the ACPR warn the public against the activities of several entities offering in France investments in the unregulated foreign exchange market (Forex) and in crypto-assets derivatives without being authorized to do so
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in the unregulated foreign exchange (Forex) market and crypto-asset derivatives in France.
Warning Savings protection Warning Crypto-assets Crypto-assets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator AMF about unauthorized entities operating in the crypto-asset space, which is relevant for crypto exchanges and other firms dealing in crypto-assets. It relates to consumer protection and the need for proper licensing and authorization.
Sanctions & settlements professional obligations Disclosure Obligations Other professionals Journalists The AMF Enforcement Committee fines a Danish investment bank for breaches of professional obligations committed by a French branch
AI Analysis
The AMF Enforcement Committee imposed a €300,000 fine on Saxo Bank A/S on 16 July 2025 for multiple breaches of professional obligations committed through its French branch, including failures to properly inform clients about significant changes to derivatives procedures, margin calculations, and securities transaction incidents, as well as deficiencies in equity savings plan (PEA) transfers. This enforcement action demonstrates the AMF's active oversight of cross-border investment banks operating in France and highlights critical gaps in client disclosure practices that compliance teams must address.
Key dates
16 July 2025
- AMF Enforcement Committee decision issued imposing €300,000 fine
22 July 2025
- Official publication of enforcement decision
No specified deadline Deadline
- Appeal period available (no specific timeframe stated in the decision)
Suggested considerations
*Audit client notification procedures for derivatives trading changes, particularly regarding position closure procedures and margin calculation methodologies, ensuring clients receive advance notice of material changes
*Implement incident reporting protocols for securities transactions that could affect order execution, with documented evidence of timely client notification
*Review PEA transfer procedures to ensure compliance with regulatory timeframes and proper documentation of information provided to clients regarding Brexit-related consequences
*Strengthen information governance to ensure all material operational changes are communicated to clients within required timeframes and with appropriate detail
*Conduct compliance training for front-office and operations staff on professional obligations regarding client communication and information disclosure
What changed
The enforcement decision does not introduce new regulatory requirements but rather clarifies existing obligations under current French financial regulations.
Client notification requirements for significant procedural changes affecting derivatives trading and margin calculations
Incident disclosure obligations for securities transactions that could materially affect order execution
Timely information provision regarding regulatory consequences of the UK's withdrawal from the European Union as they affect PEA accounts
Operational procedures for managing equity savings plan transfers with proper documentation and client communication
Shares ETF Retail investor activity in equities at its highest since 2020
Why this matters
This regulatory update discusses increased retail investor activity in equities, which is relevant for capital markets, investment management, and wealth management firms. The topics covered include consumer protection, market abuse, and reporting requirements.
Asset management Marketing PRIIPs The AMF reminds distributors of their requirements regarding marketing of investment fund
Why this matters
This regulatory update from the AMF (French financial markets regulator) is relevant for investment fund distributors, including asset managers and wealth managers, as it reminds them of their requirements regarding the marketing of investment funds.
Crypto-assets Innovation The ACPR and AMF publish the summary of responses to the consultation conducted by the Working Group on Smart Contract Certification
AI Analysis
The ACPR and AMF have published a summary of responses to a public consultation on a 2024 Working Group report exploring smart contract certification in DeFi, addressing technical standards, audit practices, and potential regulatory frameworks. This matters for compliance as it signals preparatory steps toward possible EU-level DeFi regulation, emphasizing risk reduction and trust-building without immediate mandates, influencing future operational and audit strategies for crypto firms.
Key dates
2024
- Working Group conducts analysis and drafts report on smart contract certification
3 February 2025
- Report published for public consultation
14 March 2025
- Industry responses submitted (e.g., GDF, Adan)
16 July 2025
- Summary of consultation responses published by ACPR and AMF
Suggested considerations
Monitor developments: Track ACPR/AMF Fintech Forum updates for potential voluntary certification pilots or EU harmonization under MiCA/pending DeFi rules.
Review internal practices: Align smart contract governance, audits, and change management with endorsed principles (e.g., third-party audits, risk-based recertification on material changes).
Enhance documentation: Prepare for possible protocol-level certification, including modular DeFi interactions and continuous on-chain monitoring.
Engage stakeholders: Participate in future consultations via industry groups like GDF or Adan to influence voluntary frameworks.
What changed
No binding regulatory changes are introduced; this is an exploratory summary confirming industry support for proposed principles on technical standards (security, governance, compliance), audit methods (third-party, self-certification), and regulatory avenues (preference for voluntary certification over mandatory). Respondents endorsed alignment with industry best practices, risk-based approaches, and proportionality, with calls for technologically neutral standards and continuous monitoring models.
Compliance impact
Urgency: Medium – This is not enforceable yet but previews potential mandatory certification in EU DeFi regulation, critical for firms scaling smart contract use to mitigate user risks and build trust; proactive alignment now avoids future retrofits, especially with MiCA's crypto focus.
Long term investment Equity Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers French retail investor stock market activity: the AMF analyses changes in behaviour between...
Why this matters
This regulatory update from the AMF (French financial markets regulator) analyzes changes in behavior between women and men in French retail investor stock market activity.
Asset management Collective investments Savings protection Crowdfunding: the AMF urges investors to exercise extreme caution due to the risks of project owner default or crowdfunding platform failure
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France warns investors about the risks of crowdfunding, including the potential for project owner default and crowdfunding platform failure.
Supervision Professional certification Asset management Journalists Investment management companies The AMF publishes the findings of its inspections on the verification and assessment of employee knowledge within asset management companies
Why this matters
This regulatory update from the AMF focuses on inspections related to the verification and assessment of employee knowledge within asset management companies. This is relevant for investment management and wealth management firms, as it relates to consumer protection, licensing, and governance requirements.
Annual report Savings protection Marketing Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2024 Annual Report
Why this matters
This annual report from the ACPR and AMF Joint Unit covers key regulatory developments and oversight across the banking, investment, and insurance sectors, with a focus on consumer protection, reporting requirements, and licensing/authorization. The content is informational in nature.
MiCA Crypto-assets Crypto-assets: the AMF clarifies its policy on DASPs authorised under the PACTE Law to take account of the transitional period and facilitate the transition to MiCA
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France clarifies its policy on Digital Asset Service Providers (DASPs) authorized under the PACTE Law, in light of the upcoming transition to the EU's MiCA regulation.
Marketing Long term investment Other professionals Retail investors Journalists The stock market investor journey: the AMF analyses the mobile applications of 14 institutions
Why this matters
This regulatory update from the AMF analyzes the mobile applications of 14 financial institutions, covering topics related to retail investor protection, technology/digital channels, and disclosure requirements.
This regulatory update discusses increased retail investor activity, which impacts investment management firms, capital markets, and wealth management firms. The key topics covered are consumer protection, market abuse, and reporting requirements for these types of firms.
This regulatory update from the AMF discusses the continued downward trend in financial investment fees, which is relevant for investment management firms, wealth managers, and banks that offer investment products. The topics covered include consumer protection, reporting and disclosure, and prudential requirements.
Warning Savings protection Warning Crypto-assets Crypto-assets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator AMF about unauthorized entities operating in the crypto-asset space, which is relevant for crypto exchanges, fintechs, and consumers.
Asset management Individual investment mandate Fees: the AMF updates its doctrine following the announcement of the abolition of transaction fees in situations of discretionary management
Why this matters
This regulatory update from the AMF relates to changes in the doctrine around transaction fees for discretionary asset management, which impacts investment managers and wealth managers.
Marketing Investment advice The AMF reminds financial investment advisors of their professional obligations when using financial product listing platforms
Why this matters
This regulatory update from the AMF is relevant for financial investment advisors, particularly those using financial product listing platforms. It focuses on their professional obligations around consumer protection and licensing requirements.
Warning Savings protection Warning Forex and binary options Crypto-assets 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
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a consumer protection and authorization issue of high urgency.
Marketing Derivatives or structured products Executive & other private individuals Journalists Listed companies and issuers The AMF and ACPR Joint Unit publishes its analysis of the French structured product market
Why this matters
This regulatory update from the AMF and ACPR Joint Unit analyzes the French structured product market, which is relevant for banking, capital markets, and investment management firms.
Employee savings scheme Retail investors Journalists Employee savings: employees and firms are genuinely satisfied, but there is still a great need for support and education
Why this matters
This regulatory update discusses employee savings schemes, which are relevant to banking, investment management, and wealth management firms. The key topics covered are consumer protection, reporting and disclosure requirements, and licensing/authorization for firms offering these products.
Asset management Journalists Investment management companies The AMF introduces a fast-track approval procedure for “defence” investment funds
Why this matters
This regulatory update introduces a fast-track approval procedure for 'defence' investment funds, which is relevant for asset managers and wealth managers operating investment funds. It touches on authorization and licensing requirements as well as consumer protection considerations.
Employee savings scheme Employee savings: a high level of satisfaction but a persistent need for support
Why this matters
This regulatory update discusses employee savings schemes, which are relevant to banking, investment management, and wealth management firms. The key topics covered are consumer protection, reporting and disclosure requirements, and licensing/authorization.
Markets Europe & international Other professionals Journalists Investment services providers The AMF calls on the European Commission for an ambitious strategy on the Savings and Investments Union project
Why this matters
This regulatory update from the AMF calls on the European Commission to develop an ambitious strategy for the Savings and Investments Union project, which is relevant for investment management firms, wealth managers, and banks that offer investment and savings products.
Supervision Asset management Collective investments UCIT Other professionals Journalists Investment services providers Investment management companies The AMF publishes the findings of its thematic inspections of asset management...
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on thematic inspections of asset management companies' monitoring of fund investment ratios, compensation, and claims.
Asset management The Autorité des Marchés Financiers (AMF) has published an analysis of the performance of the French real estate crowdfunding market, based on data collected from the 10 largest platforms in terms of inflows.
Why this matters
This regulatory update from the AMF analyzes the performance of the French real estate crowdfunding market, which is relevant for investment managers, wealth managers, and fintech firms operating in this space.
Crypto-assets Innovation The ACPR and the AMF publish the findings from the Working Group on Smart Contract Certification, and launch a Public Consultation
AI Analysis
The ACPR and AMF have published findings from their 2024 Working Group on Smart Contract Certification in DeFi, launching a public consultation on February 3, 2025, to explore certification frameworks for smart contracts, focusing on standards, audits, and regulatory options. This matters as it signals proactive French regulatory preparation for potential EU-level DeFi rules under MiCA, aiming to enhance security, governance, and compliance without immediate mandates, while industry feedback favors voluntary schemes.
Key dates
2025 (TBD)
- Conclusions from consultation responses to be presented
February 3, 2025
- Working Group report published and public consultation launched
March 10, 2025
- Public consultation closed (per some reports; responses summarized afterward)
July 16, 2025
- ACPR/AMF published summary of consultation responses
July 2026
- DASP regime fully phased out under MiCA transitional period
Suggested considerations
Participate/Review: DeFi/crypto firms should review the report and response summary; late participation may inform ongoing discussions (consultation closed).
Assess Smart Contracts: Evaluate internal smart contracts against proposed standards (security, governance, compliance) and audit practices for voluntary adoption.
Monitor Developments: Track ACPR/AMF updates and EU MiCA/DeFi harmonization; prepare for potential fast-track CASP licensing if using certified contracts.
Engage Stakeholders: Join ACPR-AMF Fintech Forum dialogues; implement AML/CFT enhancements for smart contract risks, as AMF/ACPR assess ongoing compliance.
What changed
No binding regulatory changes yet; this is exploratory work anticipating future regulation. The report proposes:
Standards for security, governance, and compliance across execution environments.
Audit frameworks including public authority, third-party auditors, or self-certification.
Regulatory avenues from voluntary certification to obligations, with proportionate approaches.
Consultation responses (summarized post-March 2025) confirmed support for technical standards and audits...
Compliance impact
Urgency: Medium. This is non-binding exploratory work with consultation closed, but it foreshadows potential mandatory smart contract certification in DeFi, aligning with MiCA's risk mitigation goals. Firms face low short-term risk but high long-term impact if voluntary standards evolve into obligations, especially amid DASP phase-out by July 2026 and EU harmonization needs; proactive adoption builds MiCA compliance edge.
Shares ETF ETFs: strong growth for retail investors in 2024
Why this matters
This news article discusses the strong growth of ETFs for retail investors in 2024, which is relevant for investment management firms, wealth managers, and broker-dealers. It touches on consumer protection, ESG, and technology/cyber topics.
Asset management Marketing Publication of the first study on the performance of unlisted financial asset funds aimed at non-professional clients
Why this matters
This regulatory update is related to the performance of unlisted financial asset funds aimed at non-professional clients, which falls under the investment management and wealth management sectors. The key topics covered are consumer protection and reporting/disclosure requirements for these types of funds.
Long term investment Shares Collective investments AMF 2024 Barometer: French equity investment intentions remain high
Why this matters
This regulatory update from the AMF (French financial markets regulator) discusses the results of the AMF 2024 Barometer, which indicates that French investors' intentions to invest in equities remain high.
Warning Savings protection Warning Forex and binary options Crypto-assets 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
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a consumer protection and authorization issue of high urgency.
Warning Savings protection Warning Forex and binary options The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform
Why this matters
This regulatory update from the AMF warns the public about a fraudulent Forex investment offering, which falls under the banking, investment management, and wealth management sectors. The key topics covered are consumer protection, authorization and licensing, and market abuse.
Warning Savings protection Crypto-assets Warning Cryptoassets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator AMF about unauthorized entities operating in the crypto asset space, which is relevant for crypto exchanges, fintechs, and other firms involved in the crypto industry. It relates to consumer protection and the need for proper licensing and authorization.
Asset management Marketing Innovation Other professionals Professional investors Journalists Investment management companies Listed companies and issuers The AMF awards its 2024 prize for young researchers in economics to Maxime...
Why this matters
This news item announces the AMF's award of a prize for young researchers in economics, which is relevant to investment management firms and listed companies. The topics of authorization/licensing and consumer protection are implicated as the AMF is a regulatory body overseeing these areas.
Savings protection Financial Scams Crypto-assets Retail investors Journalists The authorities are taking action to combat the massive phenomenon of financial scams catching out an increasing number of individuals
Why this matters
This regulatory update warns about the increasing prevalence of financial scams targeting retail investors, particularly in the crypto-asset space. It indicates that authorities are taking action to combat this issue, which is of high importance for firms across the banking, investment management, and crypto sectors...
Asset management Collective investments The AMF releases an updated stocktake of French funds equipped with liquidity management tools
Why this matters
This regulatory update from the AMF (French financial markets regulator) provides information on French funds equipped with liquidity management tools, which is relevant for asset managers and wealth managers.
Short selling Equity Stock market tumbles: still a rare phenomenon on the Paris market
Why this matters
This regulatory update discusses a drop in the Paris stock market, which is relevant for capital markets, investment management, and wealth management firms. The topics covered include market abuse, reporting and disclosure, and consumer protection.
ETF Equity MIFID Executive & other private individuals Professional investors Journalists Listed companies and issuers ETFs win over newcomers as they invest into the stock market
Why this matters
This regulatory update discusses the growing popularity of ETFs among both newcomers and professional investors in the stock market, which impacts investment management firms, capital markets, and wealth management firms.
Sanctions & settlements professional obligations Journalists Investment management companies The AMF Enforcement Committee fines a financial investment advisor, two asset management companies and their directors, and a credit institution a total of €5,670,000
AI Analysis
The AMF Enforcement Committee imposed total fines of €5,670,000 on a financial investment advisor (FIA), two asset management companies (AMCs), their directors, and a credit institution for breaches of professional obligations. This enforcement action underscores the AMF's rigorous scrutiny of operational controls, due diligence, and governance in investment services, serving as a critical reminder for firms to maintain robust procedures to avoid similar sanctions. It matters because it highlights personal liability for directors and escalating fines for systemic failures, potentially influencing peer reviews and audit priorities.
Suggested considerations
Conduct gap analysis of operational procedures for investments/divestments, ensuring lender authorization checks (reference AMF Position-Recommendation DOC-2020-05 on portfolio management).
Review AML/CTF due diligence frameworks for fund assets/liabilities, aligning with AMF Regulation 2016-01.
Audit retrocession practices to distributors, documenting service quality enhancements (per AMF doctrine on inducements).
Update marketing materials and advisory processes for compliance with honesty/fairness standards.
Enhance senior manager attestations and training on personal liability under CMF L.621-15-1.
What changed
This is an enforcement decision, not a regulatory change introducing new rules. It reinforces existing AMF requirements under professional obligations, including:
Implementation of operational procedures for investment/divestment processes, such as verifying lender authorizations.
Systematic anti-money laundering (AML) and counter-terrorism financing (CTF) due diligence on fund assets and liabilities.
Justification of retrocessions (rebates) to distributors, proving enhanced client service quality.
Honest, fair, and diligent business conduct with requisite skill and care, extending to marketing materials and advisory services.
No new requirements; emphasis on enforcement of MiFID II-aligned...
Compliance impact
Urgency: High – This signals intensified AMF enforcement on professional obligations in 2025 (multiple similar fines: €1.3M, €1.89M, €0.5M, €2.5M implied, €0.305M, €3.5M), with personal bans and multimillion fines. Matters due to director accountability trends, potential for follow-on audits, and educational role of Enforcement Committee decisions in clarifying regulations—non-compliance risks reputational damage and capital outflows.
Asset management Marketing The Autorité des Marchés Financiers (AMF) has published a recommendation governing the distribution of actively managed certificates (AMCs) to retail clients
Why this matters
This regulatory update from the AMF governs the distribution of actively managed certificates to retail clients, which impacts investment management firms, broker-dealers, and wealth managers. It relates to consumer protection and authorization/licensing requirements.
Warning Savings protection Warning Forex and binary options Crypto-assets 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
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a consumer protection and authorization issue of high urgency.
Shares ETF Investment services In Q3 2024, for the first time, new ETF investors outnumbered new equity investors
Why this matters
This regulatory update discusses a shift in investment trends, with ETF investors outpacing new equity investors in Q3 2024. This information is relevant for investment management firms, wealth managers, and broker-dealers who may need to adjust their product offerings and marketing strategies to cater to the changing...
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several entities proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF is directed at entities proposing unauthorized investment products, which poses risks to consumers and requires prompt action by the regulator.
Warning Savings protection Warning Crypto-assets Cryptoassets: the Autorité des Marchés Financiers warns the public about the activities of several unauthorized entities
Why this matters
This is a warning from the French financial regulator AMF about unauthorized entities operating in the crypto asset space, which is relevant for crypto exchanges, fintechs, and other firms involved in the crypto industry. It relates to consumer protection and the need for proper licensing and authorization.
Shares ETF The AMF analyses new investment practices: listed shares, ETFs and crowdfunding
Why this matters
This regulatory update from the AMF analyzes new investment practices related to listed shares, ETFs, and crowdfunding. This impacts investment managers, broker-dealers, and fintech firms operating in these areas. Key topics include consumer protection, market abuse, and reporting requirements.
Long term investment Savings protection Retail investors Journalists The Autorité des Marchés Financiers (AMF) launches a major financial education campaign aimed at young investors
Why this matters
This regulatory update from the AMF focuses on a financial education campaign aimed at young investors, which is relevant for investment managers, wealth managers, and the broader retail investor population. The key topics covered are consumer protection and financial education.
Sanctions & settlements professional obligations Journalists Investment management companies The AMF Enforcement Committee fines Sogenial Immobilier and its chairman a total of €180,000
AI Analysis
The AMF Enforcement Committee issued a €180,000 combined fine against Sogenial Immobilier (€150,000) and its chairman Jean-Marie Souclier (€30,000) on September 12, 2024, for systematic breaches of professional obligations spanning investment selection, regulatory disclosure, conflict of interest management, and anti-money laundering compliance. This enforcement action demonstrates the AMF's heightened scrutiny of asset managers' operational controls and substantive compliance with fund governance requirements, particularly regarding real estate investment companies (SCPIs).
Key dates
September 12, 2024
- AMF Enforcement Committee issued the decision
September 16, 2024
- Public announcement of sanctions
No specified deadline Deadline
- Appeal period remains open (appeals may be lodged against the decision)
Suggested considerations
*Audit Existing Procedures: Review and document all procedures governing regulatory and marketing materials for alternative investment funds, ensuring they address risk disclosure accuracy and asset return reporting requirements.
*Formalize Investment Selection Process: Document and implement investment selection procedures that demonstrate application of "high standard of diligence," including documented investment committee decisions, due diligence checklists, and approval workflows.
*Enhance Conflict of Interest Controls: Map all potential conflicts in asset allocation decisions and implement specific controls (e.g., segregation of duties, documented approvals, independent review) for each identified conflict scenario.
*Implement Comprehensive AML/CFT: Extend AML/CFT procedures to cover both fund-level investments and individual client subscriptions, with documented customer due diligence, beneficial ownership verification, and transaction monitoring.
*Strengthen Internal Control Functions: Establish or enhance internal audit/compliance functions with documented monitoring controls covering investments, conflicts of interest, and AML/CFT, with regular reporting to management and governance bodies.
What changed
The decision does not introduce new regulatory requirements but rather clarifies enforcement expectations across existing obligations:
Regulatory Documentation Standards: Asset managers must implement documented procedures governing the preparation of all regulatory and marketing materials for alternative investment funds, with...
Investment Due Diligence Standards: A "high standard of diligence" is required when selecting investments, with formal investment procedures that must be consistently followed and documented.
Conflict of Interest Management: Specific controls must address conflicts in asset allocation decisions, with documented decision-making processes that demonstrate conflict mitigation.
AML/CFT Implementation: Anti-money laundering and combating the financing of terrorism procedures must be applied comprehensively to both fund-level investments and individual client subscriptions,...
Institutional Organisational rules Journalists The Autorité des Marchés Financiers (AMF) signs #JamaisSansElles Charter
Why this matters
This news item discusses the AMF signing the #JamaisSansElles Charter, which aims to promote gender diversity in the financial industry. This is a general organizational policy update that impacts a range of financial firms, particularly asset managers, broker-dealers, and wealth managers, and relates to governance...
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
Why this matters
This regulatory update from the AMF warns retail investors about a fraudulent investment offer from Immediate Connect, which appears to be related to crypto-assets or forex/binary options.
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.
Key dates
August 2019
December 2023; - Period of identified breaches (investment services, processes, AML/CFT deficiencies)
31 December 2025
- AMF Enforcement Committee decision date imposing fines on M Capital Partners and directors
08 January 2026
- Public press release publication date
Suggested considerations
Conduct gap analysis: Immediately review investment processes, allocation rules, and traceability against AMF standards; verify authorization of lending entities and service scopes.
Enhance AML/CFT: Update procedures, risk mappings, and due diligence on fund assets/liabilities; ensure operational effectiveness with documented evidence.
Strengthen governance: Implement robust conflicts of interest systems; formalize senior manager oversight with personal accountability training.
Audit marketing/distribution: For tied agents or retrocessions, document service quality enhancements to clients.
Senior manager certification: Directors must attest to compliance in annual reporting; prepare for AMF inspections by maintaining verifiable records.
What changed
This is an enforcement action, not a new regulation, but it reinforces existing AMF requirements under French Monetary and Financial Code for asset managers:
Operational procedures: Investment allocation processes must be precise, traceable, and fully operational; failure to verify compliance (e.g., loan authorizations) breaches honesty, fairness, and...
Scope of services: Asset managers acting as tied agents cannot provide unauthorized services like placing financial instruments without firm commitment, circumventing permitted investment services.
Conflicts of interest: Systems must effectively identify, prevent, and manage conflicts.
AML/CFT due diligence: Procedures, risk mapping, and due diligence on fund assets/liabilities must be operational and systematic.
Compliance impact
Urgency: High - This recent (Dec 2025) decision, alongside similar fines (e.g., €1.3M on Altaroc Partners in Sep 2025, €400k on Eternam in Sep 2025), signals AMF's intensified scrutiny on asset manager operations post-AIFMD reviews, with personal fines rising (up to €500k+). Non-compliance risks enforcement, reputational damage, and appeals delays; act within 3-6 months to align before potential audits.
Shares ETF Collective investments Long term investment The activity of retail investors active in equities and ETFs increased further in Q2 2024
Why this matters
This regulatory update discusses increased activity of retail investors in equities and ETFs, which is relevant for investment management firms, broker-dealers, and wealth managers that serve retail clients. The topics covered include consumer protection, market abuse, and reporting requirements.
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.
Key dates
June 2023
- AMF publishes initial Discussion Paper on DeFi regulatory challenges
July 2024
- AMF publishes summary of responses to DeFi Discussion Paper
December 30, 2024
- MiCA enters force for CASPs
June 30, 2026 Deadline
- End of MiCA transitional period for DASPs; full CASP licensing required
July 2027 Deadline
- EU AMLR ("single rulebook") comes into effect, standardizing crypto due diligence
Suggested considerations
Monitor and engage: Participate in AMF's ongoing DeFi discussions and tokenization consultations for asset managers; no mandatory actions from this summary alone.
MiCA compliance: DASPs must apply for CASP licenses or leverage exemptions (e.g., notify AMF with operational/AML details if regulated entities); ensure AML/CTF alignment with EBA/TFR "Travel Rule" extensions.
Assess decentralization: DeFi protocols should evaluate if they qualify as "sufficiently decentralized" to evade DASP rules; traditional firms notify AMF before crypto services.
Update policies: Incorporate AMF clarifications on DASP transitions (DOC-2019-23/24 updates) and prepare for 2026 priorities like DORA cybersecurity.
What changed
No immediate regulatory changes or new requirements are introduced; this is a non-binding summary of consultation feedback from July 2024, intended to inform future discussions rather than enact rules. It highlights stakeholder views on DeFi's challenges, such as decentralization's impact on traditional oversight, with the AMF planning continued ecosystem engagement to outline proportionate responses.
Compliance impact
Urgency: Medium - This consultation summary does not impose new obligations but underscores evolving DeFi scrutiny within MiCA's firm deadlines (e.g., June 2026 transition end), making it critical for crypto firms to align now to avoid sanctions like DASP withdrawals. It matters for maintaining competitiveness in France's innovation-friendly regime, especially with AMF's 2026 focus on MiCA convergence and tokenization.
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
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It relates to consumer protection and licensing requirements.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Innovation Artificial intelligence AMF launches its "innovation workshops"
Why this matters
This news item announces the launch of 'innovation workshops' by the AMF, the French financial markets regulator. This indicates a focus on supporting innovation and new technologies in the financial sector, particularly for banks, asset managers, and fintech firms.
Sanctions & settlements professional obligations Other professionals Journalists AMF Enforcement Committee fines a financial investment advisor and its director for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee has issued multiple enforcement decisions against financial investment advisors and their management for breaches of professional obligations, with the most recent and significant case involving Carat GP and its directors receiving combined fines of €2.5 million and permanent/extended bans from operating as financial investment advisors. These cases establish critical precedent regarding advisor duties around client disclosure, product authorization, conflict of interest management, and honest/fair conduct—requirements that apply across the entire financial investment advisory sector.
Key dates
2 July 2019
- AMF Enforcement Committee decision against Invest Securities and financial advisors (€90,000 to €60,000 fines)
11 April 2022
- AMF Enforcement Committee decision against DCT and Didier Maurin (€150,000 and €200,000 fines; 5-year ban)
24 October 2022
- AMF Enforcement Committee decision against Salzillo Finance and Jean Salzillo (€20,000 and €80,000 fines; 3-year ban)
19 December 2023
- AMF Enforcement Committee decision against Séquence 13 and Jean-Louis Lehmann (€15,000 fines each; 5-year ban)
9 September 2024
- Conseil d'Etat judgment dismissing appeal by DCT and Didier Maurin
Suggested considerations
*Immediate Compliance Review:
*Governance and Documentation:
*Training and Culture:
*Regulatory Engagement:
What changed
The enforcement decisions clarify and reinforce several core professional obligations for financial investment advisors:
Transparency and Disclosure Obligations
Financial investment advisors must inform clients of any remuneration received for their advice and justify improvements to advisory services in return for compensation received.
Annual report Savings protection Marketing Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2023 Annual Report
Why this matters
This annual report from the ACPR and AMF Joint Unit covers key regulatory developments and oversight across the banking, investment, and insurance sectors, with a focus on consumer protection, reporting requirements, and authorization/licensing. The content is informational in nature.
Sustainable Finance Investment advice Long term investment Retail investors Journalists Mystery shopping visits to bank branches: the collection of client sustainability preferences remains fragmented
Why this matters
This regulatory update focuses on the collection of client sustainability preferences by bank branches, which is relevant for banking, wealth management, and investment management firms. The key topics covered are ESG/sustainability, consumer protection, and reporting/disclosure requirements.
Asset management Anti-money Laundering Money laundering and terrorist financing: the AMF publishes its sectoral risk analysis
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on the sectoral risk analysis for anti-money laundering and counter-terrorist financing in the asset management and wealth management sectors. It is of medium urgency for firms in these sectors to review the analysis and ensure compliance.
Warning Savings protection Crypto-assets Warning Cryptoassets: the Autorité des Marchés Financiers warns the public about the activities of several fraudulent market participants and publishes a new ‘blacklist’
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) in France warns the public about the activities of several fraudulent market participants in the cryptoasset space. The AMF is publishing a new 'blacklist', indicating a focus on consumer protection and unauthorized activities in the crypto sector.
Mediation Annual report Retail investors Professional investors Journalists AMF Ombudsman publishes her 2023 Annual Report
Why this matters
This regulatory update from the AMF Ombudsman covers mediation and annual reporting, which are relevant for investment managers, wealth managers, and banks that serve retail and professional investors. The topics include consumer protection, reporting and disclosure, and licensing/authorization requirements.
Asset management ETF Active ETFs: the AMF publishes a recommendation on the transparency of portfolios
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on transparency requirements for active ETFs, which are relevant for investment managers, broker-dealers, and crypto exchanges offering these products.
Financial products The AMF publishes a research paper on French funds’ costs
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on research into the costs of French investment funds, which is relevant for asset managers and wealth managers operating in the French market. The topics covered include consumer protection and disclosure requirements around fund costs.
Appointment AMF activity Retail investors Journalists France Mayer appointed Retail Investor Relations and Protection Director at the Autorité des Marchés Financiers
Why this matters
This regulatory update announces the appointment of France Mayer as the Retail Investor Relations and Protection Director at the Autorité des Marchés Financiers (AMF), the French financial markets regulator.
Warning Savings protection Warning Crypto-assets The AMF reminds the public that the cryptoasset trading platform BYBIT is blacklisted
Why this matters
This is a warning from the AMF about the cryptoasset trading platform BYBIT being blacklisted, which is relevant for crypto exchanges and raises consumer protection concerns.
Long term investment Equity ETF Retail investors Professional investors Journalists Dashboard of retail investors active on the stock market: sharp increase in retail ETF activity in Q1 2024
Why this matters
This regulatory update focuses on the activity of retail investors in the stock market, particularly the sharp increase in retail ETF activity in Q1 2024. This is relevant for investment management firms, broker-dealers, and wealth managers that cater to retail investors.
Asset management The AMF completes its policy on gates in master-feeder structures
Why this matters
This regulatory update from the AMF relates to policy changes on gates in master-feeder fund structures, which is relevant for investment managers and wealth managers.
Fees Collective investments Shares ETF Less expensive investment funds for savers in 2023 according to the AMF's Household Savings Newsletter
Why this matters
This regulatory update from the AMF discusses changes to investment fund fees, which impacts investment managers, wealth managers, and banks that offer collective investment products to retail investors. The update is informational in nature, providing an overview of trends in investment fund costs for savers.
Appointment AMF activity Journalists Pauline Briand joins the Autorité des Marchés Financiers (AMF) as Head of Communications
Why this matters
This is an informational news article about the appointment of a new Head of Communications at the French financial regulator AMF. It is relevant for firms in the banking, investment management, and capital markets sectors, particularly those that interact with the AMF and its communications.
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
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a high urgency issue related to consumer protection and licensing requirements.
Warning Savings protection Warning Crypto-assets The AMF reminds the public that the cryptoasset trading platform BITGET is blacklisted
Why this matters
This is a warning from the AMF about the cryptoasset trading platform BITGET being blacklisted, which is relevant for crypto exchanges and raises consumer protection concerns.
Warning Savings protection Warning Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Asset management Anti-money Laundering Combatting money laundering and terrorist financing: AMF applies two sets of European Banking Authority guidelines
Why this matters
This regulatory update from the AMF applies two sets of European Banking Authority guidelines related to combatting money laundering and terrorist financing, which is relevant for investment managers, banks, and wealth managers.
Innovation Savings protection AMF activity Open Data: publication on data.gouv.fr of the list of Asset Management Companies (AMCs) authorized by the AMF, of the white lists of Digital Asset Service Providers (DASPs) and offers of investments in miscellaneous assets
Why this matters
This regulatory update from the AMF (French financial markets authority) announces the publication of lists of authorized asset management companies, digital asset service providers, and investment offers on the French open data platform data.gouv.fr.
Supervision Marketing MIFID Journalists Investment services providers Investment management companies AMF calls on investment services providers to take account of the specific nature of temporary ownership dismemberment when marketing SCPI units
Why this matters
This regulatory update from the AMF (French financial markets authority) is focused on investment services providers and investment management companies marketing SCPI (real estate investment trust) units.
AMF activity Appointment Journalists Ten new key figures admitted to the Board of the Autorité des Marchés Financiers
Why this matters
This regulatory update announces the appointment of new board members to the French financial markets regulator, the Autorité des Marchés Financiers (AMF). This is an informational update that impacts a range of financial firms operating in the French market, including asset managers, broker-dealers, and banks, as the...
Investment advice Asset management Definition of investment advice: AMF updates its doctrine
Why this matters
This regulatory update from the AMF (French financial markets authority) relates to the definition of investment advice, which is relevant for asset managers and wealth managers. It covers consumer protection and licensing/authorization topics.
Supervision Investment services Journalists Investment services providers AMF encourages investment services providers to strengthen their procedures for handling client complaints
Why this matters
This regulatory update from the AMF focuses on investment services providers strengthening their procedures for handling client complaints, which impacts firms in the investment management, wealth management, and capital markets sectors.
Innovation MIFID The AMF reminds investment firms of the rules for identifying retail investors when reporting transactions
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) is relevant for investment firms that need to identify retail investors when reporting transactions.
Warning Savings protection Financial Scams Warning The AMF warns the public about fraudulent press advertisements proposing investments in car parks with electric charging points
Why this matters
This warning from the AMF relates to fraudulent investment schemes targeting the public, which poses risks to consumers and could involve financial crime. It is relevant for banks, wealth managers, and fintech firms that offer investment products or services.
Sanctions & settlements professional obligations Other professionals Journalists AMF Enforcement Committee fines a financial investment advisor and its director for breach of professional obligations
AI Analysis
The AMF Enforcement Committee imposed sanctions on SPI (a financial investment advisor) and its director Vincent Rhodes on 9 January 2024 for breaching professional obligations. This case demonstrates the AMF's enforcement priorities regarding advisor conduct standards and establishes precedent for disciplinary action against both firms and individual managers who fail to meet regulatory requirements.
Key dates
9 January 2024
- AMF Enforcement Committee decision imposing sanctions on SPI and Vincent Rhodes
Immediate effect
- 2-year temporary ban on both respondents from exercising financial investment advisor activities commenced following the decision
Suggested considerations
*For Financial Investment Advisors:
*Review compliance frameworks - Audit existing policies and procedures against the professional obligations that triggered this enforcement action
*Enhance governance controls - Implement systems to ensure directors and senior management comply with regulatory requirements
*Document compliance - Maintain records demonstrating adherence to professional conduct standards
*Staff training - Ensure all personnel understand the scope of professional obligations and consequences of breach
What changed
The decision does not introduce new regulatory requirements but rather clarifies enforcement of existing professional obligations for financial investment advisors.
Comply with all applicable laws and regulations governing financial investment advisory activities
Maintain professional standards in their dealings with clients and regulators
Ensure their directors and managers operate within regulatory boundaries
The enforcement action reflects the AMF's interpretation and application of existing professional conduct standards rather...
Warning Identity theft Savings protection Warning The Autorité des marchés financiers (AMF) is warning professionals about the extensive fraudulent and malicious use of its name, with links to various websites that could trick people into running a malicious computer program
Why this matters
This regulatory update from the AMF warns about the fraudulent and malicious use of its name, which could lead to people running malicious computer programs. This poses a significant risk to consumers and financial firms, requiring a high level of urgency.
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
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a high urgency issue related to consumer protection and licensing requirements.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Long term investment Collective investments Shares Retail investors Journalists Equity investment: intentions on the rise again, driven by young people
Why this matters
This regulatory update discusses a rise in equity investment intentions, particularly among young people. This is relevant for investment management firms, wealth managers, and broker-dealers that serve retail investors.
Sanctions & settlements professional obligations Investment advice Other professionals Journalists AMF Enforcement Committee fines a financial investment advisor and its director for breach of professional obligations
AI Analysis
The AMF Enforcement Committee imposed a five-year ban on financial investment advisor DCT (formerly Didier Maurin Finance) and its director Didier Maurin from practicing, plus fines of €150,000 on the firm and €200,000 on the director, for recommending unauthorized Samoan AIF investments to 64 clients, failing to manage conflicts of interest (e.g., no conflicts register), and breaching duties of competence, care, and diligence in clients' best interests. This matters as it reinforces AMF's strict enforcement on CIFs (Conseillers en Investissements Financiers) for product authorization checks, conflicts management, and client-centric obligations under MiFID II transposition in France, signaling heightened scrutiny on advisory integrity amid rising sanctions. The Conseil d'Etat upheld the decision on 9 September 2024, dismissing appeals and confirming sanctions.
Key dates
11 April 2022
- AMF Enforcement Committee decision imposing bans and fines
9 September 2024
- Conseil d'Etat judgment (no. 464877) dismissing appeals, upholding sanctions, and ordering €1,500 costs each to AMF
Suggested considerations
Immediate audit: Review client portfolios for unauthorized products (e.g., non-EU AIFs); cease recommendations and notify/remediate affected clients.
Conflicts policy enhancement: Implement/maintain a conflicts of interest register; map all potential conflicts (e.g., personal investments, commissions); test procedures annually with scenarios.
Training and documentation: Mandatory staff training on product authorization checks (e.g., via AMF registers); document all advice with diligence evidence; update compliance manuals per AMF DOC-2017-15.
Monitoring: Enhance pre-approval workflows for recommendations; report material breaches to AMF under Article L.621-18 of Monetary and Financial Code.
Director accountability: Senior managers must evidence personal oversight of compliance.
What changed
This is an enforcement decision, not a new regulation, but it clarifies and reinforces existing requirements for CIFs:
Product marketing authorization: CIFs must verify that recommended investments (e.g., AIFs) are authorized for sale in France before advising clients; recommending unauthorized products breaches...
Conflicts of interest management: CIFs must maintain an effective conflicts register, identify risks (e.g., personal benefits), and implement operational procedures; absence or failure constitutes a...
No aggravating factor for incomplete disclosures on unauthorized products absent specific rules, but core diligence duty remains absolute.
These align with AMF Position-Recommendation DOC-2017-15 on...
Compliance impact
Urgency: High - This upheld decision (post-2024 appeal) exemplifies AMF's pattern of escalating fines/bans on CIFs for conduct failures (e.g., €2.5M on Carat GP in 2025; €120K-€150K on Capexis upheld 2025), amid 2024-2025 enforcement wave on professional obligations. Matters for CIFs as it heightens personal liability for directors, risks business bans, and underscores client-best-interest primacy; non-EU product exposure amplifies fines in cross-border contexts.
Asset management UCIT The AMF releases a research paper on French bond funds' flow-performance relationship
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on research related to the flow-performance relationship of French bond funds, which is relevant for investment management firms, banks, and broker-dealers operating in the French capital markets.
Warning Warning Savings protection Forex and binary options Crypto-assets The AMF and the Paris Public Prosecutor's Office urge retail investors to be extremely vigilant regarding Immediate Connect's fraudulent investment offer in crypto-assets
Why this matters
This is a warning from the AMF and Paris Public Prosecutor's Office about a fraudulent crypto investment offer, which is relevant for crypto firms and all investors. It covers consumer protection and AML/financial crime concerns.
Sanctions & settlements Journalists The AMF Enforcement Committee fines a French tied agent of a Cypriot investment services provider and its manager for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee fined France Safe Media (FSM), a French tied agent of Cypriot provider VPR Safe Financial Group Limited (Alvexo platform), €300,000 and imposed a 10-year ban from tied agent activities and reception/transmission of orders (RTO) services, while its manager Lior Mattouk received a €100,000 fine and similar 10-year ban, for breaches occurring January 2019–September 2021. This decision, dated 10 November 2023 and upheld by Conseil d'Etat on 16 June 2025, underscores AMF's strict enforcement of professional obligations for tied agents marketing high-risk CFDs, emphasizing staff qualifications, client assessments, risk warnings, disclosures, and diligence. It matters for cross-border intermediaries as it highlights personal liability for managers and the finality of sanctions post-appeal, signaling heightened scrutiny on CFD promotion and tied agent compliance in France.
Key dates
10 November 2023
- AMF Enforcement Committee decision SAN-2023-15 imposing fines and bans
14 November 2023
- French version of press release published
16 June 2025
- Conseil d'Etat judgment (n° 490826) dismissing appeals by FSM and Mattouk, confirming sanctions and ordering €4,000 costs to AMF
Suggested considerations
Conduct gap analysis: Review staff training/qualification records, client assessment processes (questionnaires, scoring, non-interference controls), promotional materials for risk warnings, and disclosure scripts for tied agent status.
Enhance manager oversight: Implement personal accountability frameworks aligning with senior managers' regimes; document diligence/audit trails.
Audit CFD marketing: Ensure all ads comply with CFD retail restrictions (e.g., limited-risk accounts only); test client knowledge processes for robustness.
Training programs: Roll out mandatory training on MiFID II tied agent rules, with pre-hire testing and ongoing monitoring.
Cross-border review: Non-EU principals (e.g., CySEC-licensed) should audit French tied agents for alignment with host-state rules.
What changed
This is an enforcement action, not a new regulation, but it clarifies and reinforces existing requirements under French rules implementing MiFID II for tied agents:
Staff qualifications: Tied agents must verify sales staff have minimum qualifications and knowledge; post-hoc inadequate tests do not suffice.
Client knowledge/experience assessment: Questionnaires must be robust, with appropriate scoring; account managers cannot interfere (e.g., by prompting answer changes).
Promotional communications: CFD ads must include prominent risk warnings; bans on promoting non-limited-risk CFD accounts must be followed; banners lacking warnings violate rules.
Status disclosure: Clients/potential clients must be informed of tied agent status and principal's identity upon first contact.
Compliance impact
Urgency: High – Though dated (2019–2021 breaches), the 2025 appeal dismissal makes sanctions final, serving as a binding precedent for tied agents amid AMF's ongoing CFD enforcement wave (e.g., parallel fines on providers like CIC banks). It elevates personal risk for managers and signals intensified audits on client protection in high-risk products, critical for France-facing FX/CFD firms to avoid €100k–€400k fines and 10-year bans, especially post-MiFID II retail curbs.
Long term investment Risk and Trend Mapping Retail investors Professional investors Journalists Investment management companies Listed companies and issuers Gamification tends to increase investment risk-taking, according to behavioural...
Why this matters
This regulatory update discusses the impact of gamification on investment risk-taking behavior, which is relevant for investment management firms, wealth managers, and broker-dealers that serve retail investors.
Long term investment Equity Journalists Investment services providers Investment management companies Listed companies and issuers An OECD study for the AMF profiles new French retail investors
Why this matters
This regulatory update profiles new French retail investors, which is relevant for investment management firms, wealth managers, and broker-dealers that serve this client segment. The topics covered include consumer protection, reporting and disclosure, and licensing requirements.
Marketing Savings protection Retail investors Professional investors Journalists The ACPR and AMF encourage financial institutions to continue their efforts to take account of the vulnerability of ageing clients
Why this matters
This regulatory update from the ACPR and AMF encourages financial institutions to consider the vulnerability of aging clients, which impacts consumer protection, operational resilience, and governance. It is relevant for banks, wealth managers, and the broader financial industry.
Asset management Pan-European Personal Pension Products: the AMF complies with EIOPA guidelines
Why this matters
This regulatory update from the AMF relates to the compliance of Pan-European Personal Pension Products with EIOPA guidelines, which is relevant for investment managers and insurance firms offering these products.
Cooperation AMF Chair Marie-Anne Barbat-Layani meets with ASIC Chair Joseph Longo
Why this matters
This regulatory update discusses a meeting between the chairs of the AMF and ASIC, the financial regulators of France and Australia respectively. This indicates cooperation and dialogue between regulators, which is relevant for firms operating in the banking, investment management, and wealth management sectors across...
Fees Savings protection Other professionals Retail investors Journalists Investment services providers The AMF ensures that retail investors are properly informed on fees of financial products
Why this matters
This regulatory update from the AMF focuses on ensuring retail investors are properly informed about the fees of financial products, which impacts investment management firms, wealth managers, and banks that offer these products.
Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to unauthorized firms offering atypical investments, which poses risks to consumers and requires regulatory action.
Warning Warning Savings protection Forex and binary options 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
This warning from the AMF and ACPR is targeted at entities offering unauthorized Forex and crypto-asset derivative investments in France, which poses risks to consumers and requires regulatory action.
Asset management Investment advice Regime applicable to financial investment advisers: update of Position-Recommendation DOC-2006-23
Why this matters
This regulatory update from the AMF relates to the regime applicable to financial investment advisers, which impacts asset managers and wealth managers. It covers consumer protection and licensing/authorization requirements.
Asset management MIFID Financial services providers MiFID II product governance requirements: the AMF applies the updated ESMA guidelines
Why this matters
This regulatory update from the AMF applies updated ESMA guidelines on MiFID II product governance requirements, which are relevant for investment management firms, broker-dealers, and banks that offer financial products to consumers. The update covers consumer protection, licensing, and reporting obligations.
MiCA Crypto-assets Innovation Markets in crypto-assets: publication of the MiCA regulation
Why this matters
This regulatory update on the publication of the MiCA regulation is highly relevant for firms operating in the crypto-assets and digital assets space, as well as capital markets and payments firms that interact with crypto-assets.
Innovation Markets Decentralised Finance (DeFi): IOSCO publishes its consultation report
AI Analysis
The AMF publication announces IOSCO's consultation report on Decentralised Finance (DeFi), highlighting ongoing global efforts to regulate DeFi activities under IOSCO's 2023 policy recommendations. This matters for compliance professionals as it signals intensifying scrutiny on DeFi platforms for investor protection, market integrity, and financial stability risks, potentially leading to harmonized rules that bridge traditional finance and crypto assets. Firms involved in DeFi must monitor this to align with emerging "same risk, same rule" standards across jurisdictions.
Key dates
31 July 2025
- Cut-off date for assessing Participating Jurisdictions' regulatory frameworks in IOSCO's Thematic Review
October 16, 2025
- Publication date of FSB and IOSCO reports assessing crypto-asset and stablecoin implementation, including DeFi elements
2 February 2026 Deadline
- IOSCO consultation comment deadline on related reports (e.g., FMIs’ management of general business risks)
6 February 2026 Deadline
- CPMI-IOSCO consultation comment deadline on FMIs’ general business risks guidance, relevant to DeFi infrastructure
Suggested considerations
Review and comment: Submit feedback on IOSCO consultations by early February 2026 to influence final guidance on DeFi risks.
Gap analysis: Assess current operations against IOSCO's 10 Assessed Recommendations (e.g., market integrity, investor protection, cross-border cooperation) and FSB frameworks, noting reforms underway.
Enhance compliance: Implement AML mechanisms for DeFi (e.g., on-chain identity attestations), improve cybersecurity, business continuity, and enforcement powers for CASPs.
Monitor cross-border: Leverage IOSCO MMoU for cooperation and prepare for global CASP supervision.
Pilot participation: Explore EU DLT Pilot Regime or similar sandboxes for compliant DeFi activities.
What changed
No immediate binding regulatory changes are introduced, as this is a consultation report tied to IOSCO's 2023 DeFi Recommendations and a 2025 Thematic Review assessing implementation progress. Key focuses include enhanced regulatory cooperation (Recommendation 11), addressing gaps in enforcement for Crypto Asset Service Providers (CASPs), and applying CDA Policy Recommendations to DeFi for risks like financial stability, investor protection, and market integrity. Progress is noted in legal frameworks, but challenges persist in cross-border cooperation and enforcement beyond CASPs.
Compliance impact
Urgency: High – While not yet binding, the report underscores incomplete global implementation (e.g., enforcement gaps, regulatory arbitrage risks), with IOSCO/FSB calling for swift action amid 2025-2026 reviews. This matters as DeFi's growth amplifies systemic risks, prompting "same risk, same rule" enforcement; firms risk non-compliance fines, operational restrictions, or lost innovation opportunities without proactive alignment.
Sanctions & settlements professional obligations Journalists The AMF Enforcement Committee fines the Association Nationale des Conseillers Financiers-CIF for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined the Association Nationale des Conseillers Financiers-CIF (ANACOFI-CIF), a professional association approved for investment advisors (CIFs), €250,000 with a warning, and its former president €20,000 with a warning, for breaching professional obligations in membership vetting, controls, archiving, and conflicts of interest management. This decision, dated September 5, 2023, underscores AMF's scrutiny of professional associations' gatekeeping and oversight roles in ensuring CIF compliance. It matters as it signals heightened enforcement against associations failing to uphold regulatory standards, potentially impacting CIF ecosystem integrity and prompting reviews of similar bodies.
Key dates
June 2, 2023
- AMF Sanctions Commission hearing where €500,000 sanction was initially sought (reduced in final decision)
September 5, 2023
- AMF Sanctions Commission decision issued, imposing fines and warnings on ANACOFI-CIF (€250,000) and M. Patrick Galtier (€20,000)
Post
September 5, 2023; - Decision subject to potential recourse (appeal period not specified in public summaries, typically 1 month under AMF procedures)
Suggested considerations
Review and strengthen internal procedures for CIF membership vetting, ensuring dossier quality checks align with approved protocols.
Implement robust systems for member controls, sanctions processes, and secure archiving of all dossiers per CMF L.541-8 requirements.
Update conflicts of interest policies and registers to fully comply with internal rules and CMF obligations, documenting all identifications.
Conduct gap analyses on governance, documentation, and AML/KYC for CIF activities, training staff on operationalizing procedures.
For CIF members: Verify personal compliance with association standards to mitigate contagion risks from association sanctions.
What changed
This is an enforcement action, not a new regulation, but it reinforces existing obligations under French Monetary and Financial Code (CMF) for approved professional associations like ANACOFI-CIF.
Failure to verify quality of CIF membership application dossiers and non-compliance with internal adhesion procedures.
Non-respect of procedures for member controls, sanctions, and proper archiving of control dossiers.
Violation of internal rules on conflicts of interest management.
No new requirements were introduced; the case reiterates enforcement of CMF Articles L.541-8 and L.541-8-1 on documentation,...
Compliance impact
Urgency: Medium - This 2023 decision is not imminent but remains highly relevant given ongoing AMF focus on CIF compliance (e.g., 2025 sanctions for similar breaches like archiving and AML failures). It matters for preventing fines, bans, or reputational damage, as AMF targets systemic weaknesses in associations and CIFs, amplifying risks for non-compliant entities in a post-MiFID II enforcement environment.
Savings protection Cooperation Crypto-assets Retail investors Fintech Journalists The AMF and the ARPP launch the Responsible Influence Certificate in Finance
Why this matters
This regulatory update announces the launch of a new 'Responsible Influence Certificate in Finance' by the AMF and ARPP, which is likely to impact asset managers, fintechs, and crypto firms that engage in influencer marketing or other forms of digital promotion to retail investors.
Investment services Investment service: amendment of the French definition of reception and transmission of orders
Why this matters
This regulatory update amends the French definition of reception and transmission of orders, which is a core investment service. This impacts investment managers, brokers, and wealth managers who provide this service. The changes relate to authorization, reporting, and consumer protection requirements.
Institutional AMF activity Journalists The AMF pays tribute to Jacques Delmas-Marsalet
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) pays tribute to Jacques Delmas-Marsalet, which is likely related to his role and contributions in the financial services industry, particularly in the banking, investment management, and wealth management sectors.
Sanctions & settlements professional obligations Journalists Investment management companies The AMF Enforcement Committee fines an asset management company for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined asset management company Altaroc Partners (formerly Amboise Partners SA) €600,000 and its senior managers Maurice Tchenio (€500,000) and Patrick de Giovanni (€200,000) on 15 September 2025 for multiple breaches of professional obligations, including lack of operational procedures for fund investments/divestments, inadequate AML/CFT due diligence, unproven benefits of fee retrocessions to distributors, and shortcomings in marketing materials. This decision underscores the AMF's strict enforcement on operational controls, governance, and client protection in asset management, serving as a critical warning for firms to ensure robust, documented procedures and senior manager accountability. It matters because it highlights personal liability for executives and reinforces AMF's educational role through sanction explanations, potentially increasing scrutiny on similar firms.
Key dates
15 September 2025
- AMF Enforcement Committee decision issued, imposing fines on Altaroc Partners and managers
16 September 2025
- French version of press release published
Post
15 September 2025; - Appeal lodged by Altaroc Partners, Tchenio, and de Giovanni before the Conseil d’État against decision SAN-2025-09 (exact date not specified)
Suggested considerations
Review and document operational procedures for fund investments/divestments, including lender authorization checks.
Enhance AML/CFT systems with systematic due diligence on fund assets/liabilities and risk mapping.
Audit fee retrocession arrangements to demonstrate tangible client service improvements (e.g., via evidence of enhanced distribution quality).
Validate marketing materials for accuracy and completeness.
Conduct senior manager attestations on compliance oversight; implement training on personal liability.
What changed
This is an enforcement action, not a regulatory change; it reaffirms and clarifies existing obligations under French financial regulations for asset managers (sociétés de gestion de portefeuille).
Implementing operational procedures for investment/divestment processes, including verification of lender authorizations.
Conducting systematic AML/CFT due diligence on fund assets and liabilities.
Proving that fee retrocessions to distributors enhance client service quality.
Ensuring marketing materials are accurate and compliant.
These align with ongoing AMF expectations for "honest, fair, professional" conduct with requisite skill, care, and diligence.
Compliance impact
Urgency: High - This recent (2025) enforcement demonstrates AMF's willingness to impose multimillion-euro fines (€1.3M total) and hold executives personally accountable for systemic failures in core areas like operations, AML, and client disclosure. It matters for immediate risk as appeals are pending but do not suspend obligations; firms with similar setups face elevated audit risk, especially amid AMF's pattern of targeting asset managers (e.g., 5+ cases in 2024-2025).
Anti-money Laundering Asset management Anti-money laundering and combating the financing of terrorism: the AMF applies the guidelines of the European Banking Authority
Why this matters
This regulatory update from the AMF applies guidelines from the European Banking Authority related to anti-money laundering and combating the financing of terrorism, which is relevant for banking, investment management, and wealth management firms.
Long term investment Equity Retail investors Journalists Close to 40% of new equity investors are under 35
Why this matters
This regulatory update discusses trends in equity investing, particularly the growing participation of younger investors. This information is relevant for investment managers, wealth managers, and broker-dealers who serve retail investors.
Long term investment Sustainable Finance Collective investments Retail investors Journalists Sustainable investment: growing interest among French people, especially the youngest
Why this matters
This regulatory update discusses growing interest in sustainable investment among French people, especially the younger generation. This is relevant for investment managers, wealth managers, and the broader financial industry as it indicates increasing demand for sustainable investment products and services.
Innovation Savings protection AMF activity The AMF reinforces the visibility of its blacklists through Open Data
Why this matters
This regulatory update from the AMF (French financial markets authority) relates to the reinforcement of the visibility of its blacklists through open data. This impacts firms in the banking, investment management and wealth management sectors, particularly around consumer protection, reporting requirements and...
Warning Warning Savings protection Forex and binary options 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
This warning from the AMF and ACPR relates to unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which poses risks to consumers and requires regulatory action.
Warning Warning Savings protection Miscellaneous assets The AMF warns the public against companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF is directed at companies offering atypical investments without proper authorization, which poses risks to consumers and requires prompt action by regulators.
Annual report Savings protection Marketing Financial products Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2022 annual report
Why this matters
This regulatory update covers the annual report from the joint unit of the French financial regulators ACPR and AMF, which oversees insurance, banking, and retail investment.
Annual report Institutional Strategy AMF activity Retail investors Post-trade Infrastructures Journalists Investment management companies Listed companies and issuers Impact 2027: six main strategic guidelines for...
Why this matters
This regulatory update from the AMF covers strategic guidelines for 2023-2027 that impact investment management companies, wealth managers, and banks. The key focus areas are consumer protection, ESG/sustainability, and reporting/disclosure requirements.
Warning Warning Savings protection Forex and binary options Crypto-assets The AMF warns the public about the fraudulent investment offers in Forex and crypto-assets by Immediate Connect
Why this matters
This regulatory update from the AMF warns the public about fraudulent investment offers in Forex and crypto-assets by the firm Immediate Connect. This falls under the banking/credit and crypto/digital assets sectors, with implications for consumer protection and authorization/licensing requirements for crypto firms...
Sanctions & settlements Journalists Investment services providers By two decisions, the AMF Enforcement Committee fines two investment services providers for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee issued two decisions on 19 June 2023 fining Crédit Industriel et Commercial (€1 million) and Banque CIC Sud-Ouest (€250,000) for breaches of professional obligations in investment advisory services, including inadequate suitability assessments, client classification procedures, marketing of unsuitable instruments, and insufficient controls on costs and fees. This matters because it underscores AMF's strict enforcement of MiFID II-derived obligations, signaling heightened scrutiny on operational systems for client protection and potential for substantial fines based on breach duration and scale.
Key dates
19 June 2023
- AMF Enforcement Committee decisions issued, imposing fines and warnings
Suggested considerations
Conduct immediate gap analysis of investment advisory processes against AMF expectations for suitability assessments, client classification, product matching, and control systems.
Enhance traceability and documentation of suitability checks, client categorizations, and cost disclosures to demonstrate operational effectiveness.
Review and strengthen internal procedures for marketing instruments, ensuring alignment with client profiles and regulatory marketing authorizations (cross-reference to similar past cases).
Implement or audit remedial measures, as considered in fine calculations, including staff training on professional obligations.
Test controls for providing clear cost information to clients, avoiding misleading disclosures.
What changed
This is an enforcement action rather than new legislation, but it reinforces existing regulatory requirements under French Monetary and Financial Code and MiFID II transposition:
Obligation to implement an effective operational system for assessing investment suitability in advisory services.
Requirement for compliant client classification procedures aligned with regulations.
Duty to market only financial instruments suited to client profiles.
Mandate for effective control systems over investment advisory activities.
Compliance impact
Urgency: High – Demonstrates AMF's willingness to impose multimillion-euro fines for systemic operational failures in core client protection areas, with penalties scaled by breach duration, number, and seriousness; firms with advisory services face elevated risk of audits or enforcement if controls are deficient.
Crypto-assets Innovation Fintech Journalists The AMF publishes a discussion paper on Decentralised Finance (DeFi)
AI Analysis
The Autorité des Marchés Financiers (AMF), France's financial markets regulator, published a discussion paper on June 19, 2023, outlining preliminary thoughts on regulatory challenges posed by Decentralised Finance (DeFi) activities on crypto-assets, inviting stakeholder feedback by September 30, 2023. A summary of responses was released on July 10, 2024, highlighting key themes like defining DeFi, distinguishing protocol types, and applying a "same activity, same risk, same regulation" principle. This matters for compliance professionals as it signals AMF's intent to develop proportionate DeFi oversight, balancing innovation with investor protection, AML/CTF risks, and market integrity amid evolving EU frameworks like MiCA.
Key dates
June 19, 2023
- AMF publishes initial discussion paper on DeFi regulatory issues
September 30, 2023 Deadline
- Deadline for stakeholder contributions to the discussion paper
July 10, 2024
- AMF publishes summary of responses to the discussion paper
Suggested considerations
Submit feedback (past deadline): Stakeholders could contribute by September 30, 2023, to innovation@amf-france.org.
Monitor developments: Track AMF/ACPR follow-ups, including smart contract certification discussions.
Conduct internal assessments: Analyze DeFi exposures using IOSCO criteria—identify responsible persons, risks (operational, AML/CTF), interconnections with TradFi, and ensure disclosures/conflict management.
Enhance compliance programs: Prepare for proportionate rules on governance, cybersecurity, solvency, transparency; align with "same risk, same regulation" for DeFi-like activities.
Engage stakeholders: Participate in AMF ecosystem dialogues at French/EU/international levels.
What changed
This is a discussion paper and consultation, not binding legislation, so no immediate regulatory changes or requirements are imposed. Key discussion points include:
Defining DeFi based on decentralization criteria (e.g., automation, network architecture, governance, lack of single points of failure).
Distinguishing permissioned vs. permissionless protocols and public vs. private blockchains.
Regulatory approaches to smart contracts (e.g., certification, varying responsibilities), open-source code, and governance.
Urgency: Medium – This is non-binding consultation feedback without hard deadlines or rules, but it previews AMF's regulatory trajectory toward DeFi oversight, including AML/CTF enforcement and investor safeguards, amid MiCA rollout. It matters because DeFi's growth amplifies risks like pseudonymity-driven financial crime and market abuse, potentially triggering enforcement of existing laws; firms risk non-compliance if unprepared for "same risk, same regulation" application, especially with AMF's international push.
Financial services providers Asset management Marketing European Crowdfunding Services Providers: the AMF publishes a position on marketing communications
Why this matters
This regulatory update from the AMF (French financial regulator) is focused on marketing communications for European Crowdfunding Service Providers, which are relevant for asset managers, broker-dealers, and fintech firms operating in the crowdfunding space.
Investment advice MIFID Asset management MiFID II suitability assessment: the AMF applies the updated ESMA guidelines
Why this matters
This regulatory update from the AMF applies the updated ESMA guidelines on suitability assessments under MiFID II, which is relevant for investment firms providing investment advice and portfolio management services.
Asset management Employee savings funds: the AMF amends its policy on the simplified integration of liquidity management tools
Why this matters
This regulatory update from the AMF (French financial markets authority) amends its policy on the simplified integration of liquidity management tools for employee savings funds, which are investment vehicles for employee retirement savings.
Mediation Annual report Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF Ombudsman publishes her 2022 Annual Report
Why this matters
This regulatory update from the AMF Ombudsman covers topics related to investment services, investment management, and listed companies. It is an informational annual report, so the urgency is low.
Sanctions & settlements Asset management Journalists Investment management companies The AMF Enforcement Committee sanctions an asset management company and two of its managers for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee sanctioned asset management company M Capital Partners and its managers Rudy Secco (€70,000 fine) and Stéphanie Minissier (€35,000 fine) with a total firm fine of €200,000 in its decision dated 31 December 2025, for multiple breaches of professional obligations spanning August 2019 to December 2023. This case underscores AMF's strict enforcement on operational compliance, scope of authorized activities, and AML/CFT systems in asset management, serving as a critical reminder for firms to ensure robust, traceable processes and manager accountability. It matters because it highlights personal liability for senior managers and recurring AMF focus on tied agents exceeding permitted services, potentially signaling increased scrutiny in 2026.
Key dates
August 2019
December 2023; - Period of breaches investigated
31 December 2025
- AMF Enforcement Committee decision date; fines imposed on M Capital Partners (€200,000), Rudy Secco (€70,000), and Stéphanie Minissier (€35,000)
Suggested considerations
Review and enhance tied agent activities to ensure no unauthorized investment services like non-firm commitment placements; map against permitted services list.
Audit investment allocation systems for precision, operationality, and traceability; implement verifiable verifications.
Strengthen AML/CFT frameworks: ensure due diligence is adequate, systems are operational, and staff training is regular.
Update conflicts of interest policies with clear identification, prevention, and management procedures.
Conduct senior manager attestations on personal oversight; perform gap analysis against this and similar cases (e.g., Eres Gestion, Inter Gestion).
What changed
This is an enforcement decision, not a new regulation, but it reinforces and clarifies existing requirements under French Monetary and Financial Code (e.g., Article L.
Asset management companies (AMCs) acting as tied agents cannot provide placement of financial instruments without a firm commitment basis, as this exceeds the restrictive list of permitted investment...
Investment allocation processes must be precise, operational, and traceable, with demonstrated compliance to investment procedures.
Firms must maintain effective systems for conflicts of interest identification/prevention, AML/CFT (including adequate due diligence), and overall operational controls.
These align with patterns in...
Compliance impact
Urgency: High - This recent (Dec 2025) decision directly implicates senior accountability and operational failures in core AMC functions, with fines totaling €305,000 showing AMF's willingness to penalize both firms and individuals. It matters amid a pattern of similar sanctions (e.g., €200k on Eres in 2023 for procedures/investor info; warnings/fines on Inter Gestion in 2024 for AML), indicating heightened 2026 enforcement risk; non-compliant firms risk fines, reputational damage, and manager bans, especially if dually registered.
Savings protection Equity Savings Plan Shares Long term investment Retail investors Journalists Investment services providers Listed companies and issuers Equity savings plans : the AMF working group proposes avenues for...
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France focuses on proposed improvements to equity savings plans, which are investment products targeted at retail investors.
MiCA Crypto-assets Innovation Crypto-asset markets: the MiCA regulation adopted by the European Parliament
Why this matters
This regulatory update on the MiCA regulation adopted by the European Parliament is highly relevant for crypto-asset firms and fintechs, as it introduces new authorization and licensing requirements, consumer protection measures, and market abuse rules for crypto-asset markets.
Long term investment Equity Savings Plan Retail investors Journalists Slight recovery of retail investor activity in the stock market
Why this matters
This regulatory update discusses a slight recovery in retail investor activity in the stock market, which is relevant for asset managers, broker-dealers, and wealth managers that serve retail clients. The topics covered include consumer protection, market abuse, and reporting/disclosure requirements.
Financial disclosures & corporate financing The AMF makes available to listed companies the English version of its recommendations and the results of its examination work of the financial statements
Why this matters
This regulatory update from the AMF provides English versions of its recommendations and examination work related to the financial statements of listed companies.
Warning Warning Savings protection Forex and binary options 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
This warning from the AMF and ACPR is directed at entities offering unauthorized Forex and crypto-asset derivative investments in France, which poses risks to consumers and requires regulatory action.
Collective investments Shares The AMF presents its proposals to improve the readability of financial product fees in European law
AI Analysis
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.
Suggested considerations
Monitor and Respond: Review the proposed table and draft glossary (available in French); consider submitting feedback via FSCC or directly to European Commission consultations on Retail Investment Strategy.
Internal Review: Assess current MiFID 2/PRIIPs fee disclosures for compatibility with the proposed format; prepare for potential regulatory evolution by mapping existing presentations to the new table.
Testing and Training: Evaluate glossary integration into client communications; conduct internal consumer testing aligned with AMF tools if adopting early.
No immediate obligations, as this is a non-binding proposal requiring EU law changes.
What changed
- Alternative Fee Presentation Table: A proposed redesigned table for displaying costs associated with subscribing to financial instruments, emphasizing investor understanding rather than adding a...
Glossary of Terms: A harmonized glossary defining key fee types, tested with non-professional investors using AMF consumer testing tools, to standardize terminology across professionals and aid...
No changes to fee calculation methodologies; focus is solely on presentation and terminology.
Compliance impact
Urgency: Medium – This is a consultative proposal without firm deadlines or binding rules, but it signals likely EU-level shifts in fee disclosure under MiFID 2/PRIIPs, impacting retail investor-facing firms. It matters for proactive compliance, as early adoption of clearer formats could mitigate future enforcement risks amid Retail Investment Strategy scrutiny, especially given AMF's history of fee doctrine updates (e.g., turnover fee bans).
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...
Why this matters
This regulatory update discusses trends in employee savings schemes, including increased awareness and ownership. It is relevant for investment managers, wealth managers, and all firms that offer or manage employee savings products.
Long term investment Equity Retail investors Professional investors Journalists The AMF has produced the standard profile of active investors in 2022
Why this matters
This regulatory update from the AMF provides information on the standard profile of active investors in 2022, which is relevant for investment management firms, wealth managers, and broker-dealers that serve retail and professional investors.
MIFID Supervision Retail investors Journalists Mystery shopping campaign to bank branches: progress made in the questioning to client, improvements needed in the information provided
Why this matters
This regulatory update from the AMF focuses on a mystery shopping campaign to bank branches, which is relevant for banking, investment management, and wealth management firms. The key topics covered are consumer protection, reporting and disclosure requirements, and authorization and licensing.
Warning Warning Savings protection Forex and binary options The AMF warns the public about fraudulent investment offers through trading robots
Why this matters
This regulatory update from the AMF warns the public about fraudulent investment offers through trading robots, which impacts firms in the banking, investment management, and wealth management sectors. It relates to consumer protection, authorization and licensing requirements, and technology/cyber risks.
AMF activity Asset management Contributions payable to the AMF: a new complaints form for a more effective follow-up
Why this matters
This regulatory update from the AMF relates to a new complaints form for contributions payable to the AMF, which impacts asset managers and wealth managers in the investment management and wealth management sectors. It is focused on consumer protection and reporting/disclosure requirements.
Innovation Markets AI enthusiasts, the AMF challenges you
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France is focused on innovation and AI in the financial services sector, particularly targeting asset managers, wealth managers, and fintech firms. The key topics covered include technology/cyber, authorization/licensing, and consumer protection.
Sanctions & settlements professional obligations Investment advice Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined financial investment advisor Capexis €120,000 on 15 February 2023 for breaches including receiving prohibited payments from client loan repayments and failing to disclose commissions from SCPI usufruct subscriptions, with the Conseil d'Etat later increasing the fine to €150,000 on 3 March 2025. This enforcement action underscores AMF's strict oversight of **financial investment advisors (Conseillers en Investissements Financiers - CIFs)** on professional obligations like payment restrictions and transparency. It matters for compliance as it highlights personal liability risks and the educational role of such decisions in clarifying regulations.
Key dates
15 February 2023
- AMF Enforcement Committee decision imposing €120,000 fine on Capexis
3 March 2025
- Conseil d'Etat judgment increasing fine to €150,000, overturning some findings, and ordering publication on AMF website
Suggested considerations
Review payment structures: Audit all client interactions for prohibited receipts (e.g., loan repayments, indirect commissions); ensure only advisory fees are collected.
Enhance disclosure policies: Implement mandatory client notifications on commissions, including SCPI or similar structures, with documented evidence.
Conduct gap analysis: Assess compliance with best interests duty, conflict identification, and product authorization; maintain registers and procedures.
Training and monitoring: Train staff on CIF obligations; monitor for similar breaches in fund marketing or client lending.
Prepare for inspections: Ensure diligence in cooperating with AMF inspectors, as non-cooperation can lead to sanctions.
What changed
This is an enforcement decision, not a new regulation, but it reinforces existing requirements under French financial regulations for CIFs:
Prohibition on non-remunerative payments: CIFs cannot receive payments beyond fees for advisory services, such as loan repayments from clients.
Commission disclosure: CIFs must inform clients of the nature, amount, or calculation method of any commissions received in connection with investment advice, e.g., from SCPI usufruct arrangements.
No aggravating factor for incomplete information on unauthorized marketing absent specific provisions, but core duty to ensure authorized products and act in clients' best interests remains paramount...
Compliance impact
Urgency: High - This matters due to escalating fines (e.g., €120k to €150k on appeal), permanent/temporary bans in parallel cases, and director liability up to €2m. Recent 2024-2025 enforcements signal AMF's intensified focus on CIF misconduct amid fund scandals, risking reputational damage and operational bans for non-compliant firms. Immediate policy reviews are essential to avoid similar outcomes.
Asset management Extension of the preparation of a Key Information Document to all collective investments: the AMF updates its policy
Why this matters
This regulatory update from the AMF extends the requirement to prepare a Key Information Document to all collective investments, which impacts asset managers and wealth managers. It relates to consumer protection and disclosure requirements.
Savings protection Marketing Marketing of financial products to ageing populations: publication of an independent academic research report on customer relations and sales processes
Why this matters
This regulatory update focuses on the marketing of financial products to aging populations, which impacts firms across the banking, investment management, and wealth management sectors. Key topics include consumer protection, operational resilience, and disclosure requirements.
Long term investment Equity Equity Savings Plan Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers Over 1.5 million retail investors bought or sold shares in...
Why this matters
This regulatory update discusses retail investor activity in the equity markets, which is relevant for investment management firms, broker-dealers, and wealth managers that serve retail clients.
Warning Warning Savings protection The AMF warns the public about calls from fraudsters claiming to help recover funds
Why this matters
This regulatory update from the AMF warns the public about fraudulent calls claiming to help recover funds, which is relevant for banking, investment management, and wealth management firms that handle client funds.
Sanctions & settlements Journalists Investment management companies The AMF Enforcement Committee fines the British company H2O AM LLP and two of its executives at the time of the facts for several breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee fined UK asset manager H2O AM LLP €75 million and its executives Bruno Crastes (€15 million, plus a 5-year ban) and Vincent Chailley (€3 million) for breaches in managing French UCITS funds, including ineligible Tennor Group investments, liquidity risks, valuation failures, and non-compliance with investment ratios and counterparty limits. This matters as it underscores AMF's strict enforcement on UCITS eligibility, risk management, and prospectus adherence, with cross-border implications confirmed by the Conseil d'État's dismissal of appeals on 13 June 2025. It signals heightened scrutiny on illiquid, unrated assets and "buy & sell back" transactions for EU asset managers.
Key dates
30 December 2022
- AMF Enforcement Committee decision SAN-2023-01 imposing fines and sanctions
- Conseil d'État dismisses appeals (n. 471548, 471744), upholding sanctions and ordering €3,000 costs to AMF
Suggested considerations
Review portfolios: Audit UCITS/AIF holdings for liquidity, rating compliance, prospectus alignment, and issuer/counterparty limits; divest non-eligible assets.
Enhance due diligence: Implement robust processes for unlisted/illiquid securities valuation, liquidity risk modeling, and repo unwind risks; document all assessments.
Strengthen governance: Senior managers must oversee investment ratios and eligibility; update procedures for buy & sell backs in exposure calculations.
Depositary checks: Verify oversight of management company systems for ratios, legality, and prospectus terms.
Training/remediation: Conduct firm-wide training on UCITS rules; test controls against AMF/FCA principles (e.g., skill/care, regulator relations).
What changed
This is an enforcement decision, not new rules, but it reinforces existing UCITS requirements under French Monetary and Financial Code and AMF regulations:
UCITS investments must exclude illiquid, unrated securities outside prospectus scopes; liquidity risks must be properly assessed to ensure redemption capabilities.
Debt holdings per issuer capped at 10%; counterparty exposure (e.g., 5% limit) must include all relevant transactions like buy & sell backs.
Reliable valuation information required; risks of unwinding transactions at market value must be evaluated.
These align with parallel FCA findings on due diligence failures for Tennor investments...
Compliance impact
Urgency: High - Finalized enforcement (June 2025) with massive fines (€93M total) and bans demonstrates AMF's willingness to pursue personal/executive liability for UCITS breaches, especially cross-border. Matters for firms with illiquid strategies, as it amplifies post-2020 liquidity crisis lessons (e.g., H2O fund gates), risking similar sanctions amid rising AMF actions on depositaries and managers.
Warning Warning Savings protection The AMF warns the public against certain platforms proposing investments in real estate as "royalties"
Why this matters
This warning from the AMF targets platforms proposing investments in real estate as 'royalties', which could be misleading or fraudulent. This impacts investment managers, wealth managers, and fintech firms offering these types of products.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Europe & international Savings protection Marie-Anne Barbat-Layani to chair ESMA's Investor Protection Standing Committee
Why this matters
This regulatory update announces the appointment of Marie-Anne Barbat-Layani as the chair of ESMA's Investor Protection Standing Committee, which is relevant for investment managers, wealth managers, and banks that provide investment services to retail clients.
Crypto-assets Innovation Digital assets: the AMF strengthens its policy on DASPs in relation to good repute and skills and promotional communications
Why this matters
This regulatory update from the AMF strengthens its policy on digital asset service providers (DASPs) in relation to good repute, skills, and promotional communications.
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.
Innovation The AMF publishes its proposals for an open finance framework
AI Analysis
The Autorité des Marchés Financiers (AMF), France's financial markets authority, has published proposals for an **open finance framework** via a public consultation, extending open banking principles to broader financial data sharing for enhanced innovation and competition. This matters for compliance professionals as it signals upcoming regulatory requirements for secure data access, APIs, and customer consent mechanisms, aligning with EU trends toward open finance while prioritizing consumer protection and market resilience. Firms must engage early to shape the final rules and prepare systems for compliance.
Key dates
2026 (H2)
- Expected finalization of AMF AI roadmap and tokenization consultation, influencing open finance APIs
January 14, 2026
- AMF publishes 2026 priorities, including open finance as part of innovation framework
June 30, 2026
- End of MiCA transitional period, relevant for crypto/open finance intersections
TBD (consultation period) Deadline
- Public consultation on open finance proposals; firms should check AMF site for exact submission deadline (typically 1-3 months post-publication)
Suggested considerations
Review and respond to consultation: Submit feedback on proposals via AMF portal (https://www.amf-france.org/en/news-publications/news/amf-publishes-its-proposals-open-finance-framework) to influence final rules.
Conduct gap analysis: Assess current APIs, data sharing capabilities, consent processes against proposed standards; integrate DORA compliance.
Update policies: Revise customer onboarding, data protection (GDPR alignment), and TPP accreditation processes.
Engage stakeholders: Participate in AMF's asset management tokenization consultation and AI use cases study for synergies.
Test systems: Pilot secure APIs for investment/insurance data sharing; prepare for cybersecurity inspections.
What changed
The publication outlines AMF's proposals for an open finance framework, building on open banking (e.g., PSD2) to include investments, insurance, and asset management data. Key elements include:
Mandatory API-based data sharing for account information and payment initiation, extended to non-banking products like securities and insurance.
Enhanced customer consent and control mechanisms, with granular permissions, revocation rights, and strong authentication.
Security and liability standards aligned with DORA (Digital Operational Resilience Act), including incident reporting and resilience testing.
Governance structure with a centralized standards body, similar to open banking hubs in the UK or EU.
Compliance impact
Urgency: High – As a consultation, immediate engagement is critical to shape rules, but full implementation may not hit until 2027+. It matters due to alignment with AMF's 2026 priorities on innovation (AI, tokenization, MiCA) and resilience (DORA, cybersecurity), risking fines or supervisory actions for non-prepared firms amid EU harmonization push. Early movers gain competitive edge in data-driven services.
Long term investment Shares Collective investments Retail investors Journalists The AMF’s latest savings barometer finds that the French are a little less inclined to invest in the stock market
Why this matters
This regulatory update from the AMF discusses trends in French retail investor behavior, particularly their inclination to invest in the stock market. This information is relevant for investment management firms, wealth managers, and broker-dealers that serve retail clients in France.
Warning Savings protection Warning The AMF warns the public about fraudulent offers to invest in the energy transition
Why this matters
This warning from the AMF is targeted at fraudulent investment offers related to the energy transition, which impacts firms across the banking, investment management, and wealth management sectors. It raises consumer protection and authorization/licensing concerns, as well as ESG/sustainability implications.
Sanctions & settlements Investment advice Other professionals Journalists Investment services providers The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee sanctioned financial investment advisor DCT (formerly Didier Maurin Finance) and its manager Didier Maurin with a five-year ban from practicing and fines of €150,000 and €200,000 respectively for recommending unauthorized Samoan AIF shares to 64 clients and failing to identify/manage conflicts of interest, including lacking a conflicts register. This decision, upheld by the Conseil d'Etat on 9 September 2024, underscores AMF's strict enforcement of client-best-interest and conflicts obligations under French regulations. It matters as it provides binding guidance on due diligence for product marketing authorization and conflicts procedures, signaling heightened scrutiny on financial investment advisors (FIAs).
Key dates
11 April 2022
- AMF Enforcement Committee issues decision SAN-2022-04, imposing bans and fines
9 September 2024
- Conseil d'Etat judgment (no. 464877) dismisses appeal, upholds sanctions, and orders €1,500 costs each to AMF
Suggested considerations
Immediate review: Audit client portfolios for recommendations in unauthorized products (e.g., non-French AIFs); remediate via disclosures or unwind if needed.
Conflicts enhancement: Implement/maintain a conflicts of interest register; map, document, and mitigate all potential conflicts with operational procedures.
Policy updates: Revise investment recommendation processes to include pre-advice marketing authorization checks via AMF registers or legal confirmation.
Training: Mandatory staff training on FIA professional obligations, focusing on client diligence and unauthorized marketing risks.
Documentation: Ensure all advice is fully documented; prepare for AMF inspections with honest, diligent cooperation.
What changed
This is an enforcement action, not a regulatory change, but it clarifies and reinforces existing obligations for FIAs under AMF rules:
FIAs must verify marketing authorization of recommended products in France before advising clients; recommending unauthorized AIFs breaches competence, care, diligence, and client-best-interest...
FIAs require effective, operational procedures for identifying and managing conflicts of interest, including maintaining a conflicts register; failure to do so is a standalone breach.
No new rules...
Compliance impact
Urgency: Medium - Not critical as no new rules or deadlines, but medium due to upheld precedent reinforcing FIA duties amid AMF's pattern of FIA sanctions (e.g., bans/fines in 2022-2025 cases). Matters for FIAs lacking controls, as breaches lead to personal liability, business bans, and fines scaling with client harm; signals AMF educational enforcement focus, increasing inspection risks.
This regulatory update from the AMF is informational in nature, announcing a request for candidates to join its consultative commissions. It is relevant for investment management firms, wealth managers, and the broader financial industry.
Long term investment Shares Executive & other private individuals Retail investors Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This regulatory update discusses a significant drop in the number of active retail investors in the stock market, which could impact investment management firms, wealth managers, and broker-dealers that serve this client segment.
Financial disclosures & corporate financing Financial products Executive & other private individuals Professional investors Journalists Listed companies and issuers The AMF publishes a study on the share price performance of companies using dilutive...
Why this matters
This regulatory update from the AMF focuses on the share price performance of companies using dilutive financing, which is relevant for capital markets, investment management, and wealth management firms.
Asset management The AMF updates its policy on management fees for collective investment undertakings (CIUs)
Why this matters
This regulatory update from the AMF focuses on changes to management fees for collective investment undertakings, which is relevant for asset managers and wealth managers. The updates relate to consumer protection and disclosure requirements.
Warning Miscellaneous assets Savings protection Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
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.
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.
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.
Investment services Savings protection Europe & international Retail investors Investment services providers The AMF informs the public of the partial suspension by the CySEC of VPR Safe Financial Group Limited’s authorisation to operate in France
AI Analysis
The AMF publication notifies the public of CySEC's August 3, 2022, decision to partially suspend VPR Safe Financial Group Limited's (operating as Alvexo) authorization to provide investment services in France, prompted by AMF findings of regulatory violations including misleading marketing, inadequate client suitability assessments, and poor tied agent oversight. This cross-border enforcement highlights escalating EU supervisory cooperation under MiFID II, serving as a warning for firms using tied agents in France. It matters for compliance as it underscores risks of AMF referrals leading to home-state suspensions, with subsequent developments including suspension revocation and full license withdrawal by September 2025.
Key dates
~October 4, 2022 Deadline
- Two-month deadline for VPR to remediate compliance issues (from suspension date)
August 3, 2022
- CySEC issues partial suspension decision based on AMF findings, effective immediately for French operations
September 29, 2025
- CySEC fully withdraws VPR's CIF authorization pursuant to the firm's renunciation
October 13, 2025
- CySEC publicly announces license withdrawal
Post Deadline
August 22, 2022 (exact date unspecified); - CySEC revokes partial suspension after demonstrated compliance
Suggested considerations
For VPR/Alvexo (during suspension): Cease all new client onboarding, advertising, and general deposits in France; complete pending transactions and return client funds/instruments; remediate tied agent oversight, marketing compliance, and suitability processes within two months.
Client protection: Existing French clients retain rights to close positions and withdraw funds without hindrance.
What changed
This is an enforcement action rather than new rules, imposing specific prohibitions on VPR Safe Financial Group Limited in France:
Ban on accepting new French clients or entering business relationships with them.
Prohibition on advertising or marketing investment services to current or potential French clients, directly or via tied agent France Safe Media.
Restriction on receiving new deposits from existing French clients, except to cover initial margins for open positions upon explicit client request.
These stem from suspected breaches of Cyprus'...
Compliance impact
Urgency: Low (as of January 2026). The 2022 suspension is historical, resolved via revocation and superseded by full license withdrawal in 2025, posing no ongoing restrictions. It matters as a precedent for AMF-CySEC coordination on retail misconduct (e.g., CFD marketing, tied agents), urging firms to prioritize MiFID II conduct rules to avoid similar escalations; prior €100,000 CySEC fine in 2021 adds pattern risk for repeat offenders.
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.
Key dates
January 10, 2024
- Revised ELTIF Regulation came into application
June 13, 2024
- Enactment of Attractiveness Law No. 2024-537 (establishing 15-year maximum lock-up period)
November 12, 2024
- AMF decision approving amendments to General Regulation
December 5, 2024
- Effective date for new Article 422-120-16 (bank details collection requirement for newly established funds)
December 5, 2024
- Publication in Official Journal of the French Republic
Suggested considerations
*For All Retail Private Equity Fund Managers:
*Audit historical compliance with fund lifespan commitments over the preceding ten years to determine if warning requirements under Article 422-120-14-1 apply
*Update promotional materials to include required warnings if materiality thresholds are met (managing/having managed at least one other retail PE fund and at least three funds that reached end-of-life)
*Implement bank details collection for all funds established after December 5, 2024, incorporating requirements into subscription forms per Instruction DOC-2011-22
*Establish prior notification procedures for substantial changes to fund structure, investment strategy, or operations, with one-month advance notice to the AMF
What changed
The AMF has amended its General Regulation and policy framework to implement several substantive requirements:
Liquidation Compliance & Warnings
A new Article 422-120-14-1 requires management companies to include a warning in promotional materials if, over the ten years preceding fund authorization, the company failed to respect the lifespan of at least 50% of retail or professional private equity funds under its management.
MiCA Crypto-assets Innovation Cooperation Europe & international Crypto-asset markets: Agreement reached on the European Crypto-Assets regulation (MiCA)
Why this matters
This regulatory update on the European Crypto-Assets regulation (MiCA) is highly relevant for crypto-asset firms and fintechs, as it covers key topics such as authorization and licensing requirements, as well as consumer protection measures.
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
Why this matters
This regulatory update focuses on the cooperation between the AMF and ARPP to promote clear and responsible advertising of financial products, including crypto-assets. This impacts banking, investment management, and crypto firms, with implications for consumer protection, licensing, and technology/cyber risks.
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.
Key dates
9 September 2025
- AMF Enforcement Committee decision fining Eternam €400,000 (similar case on marketing, club deals, conflicts, valuation, AML/CFT)
10 December 2025
- AMF Enforcement Committee decision fining Novaxia Investissement €400,000 and director €100,000 (investment processes, group providers, distributor fees, client categorization, AML/CFT)
31 December 2025
- AMF Enforcement Committee decision fining M Capital Partners €200,000 and directors €70,000/€35,000 (investment systems, conflicts, AML/CFT)
Suggested considerations
Audit internal procedures: Immediately review investment/divestment, valuation, and allocation processes for operational status, completeness, traceability, and documentation of due diligence.
Enhance conflict and transparency controls: Implement/test effective conflicts of interest policies for group providers/distributors; update investor disclosures on fees/retrocessions with clear justifications.
Strengthen AML/CFT and client categorization: Validate risk mapping, procedures, and due diligence; ensure formalization of independent valuer work and external expert oversight.
Senior manager accountability: Conduct gap analysis attributing responsibilities; train executives on personal liability risks.
Mock AMF inspections: Simulate Enforcement Committee reviews, focusing on evidence of procedure adherence.
What changed
This is an enforcement decision rather than new legislation, but it reinforces and clarifies existing regulatory requirements under AMF professional obligations for portfolio asset managers (sociétés...
Investment/divestment processes must be fully operational, with traceability of compliance checks against fund policies and formalized due diligence before allocations.
Effective conflicts of interest policies are mandatory when using group service providers, with comprehensive, accurate investor disclosures on related remuneration.
Full transparency required on retrocessions of management fees to distributors, including justification of added value.
Robust client categorization and AML/CFT systems, including operational procedures, risk mapping, and adequate due diligence on fund assets/liabilities.
No explicit regulatory changes, but these...
Compliance impact
Urgency: High - Recent cluster of identical fines (€200k-€500k total per case) in late 2025 signals AMF's enforcement priority on operational deficiencies in asset management, with personal sanctions escalating risks for leadership. Firms with similar setups (group providers, AIFs/club deals) face imminent inspection risk; non-compliance could trigger fines, reputational damage, and appeals processes.
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
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on inspections of asset management companies regarding best execution practices, which is a key investor protection requirement under MiFID II.
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
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a consumer protection and authorization issue of high urgency.
Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Annual report Savings protection Journalists Investment services providers Investment management companies Listed companies and issuers The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2021 annual report
Why this matters
This regulatory update covers the 2021 annual report from the joint unit of the French financial regulators ACPR and AMF, which oversees insurance, banking, and retail investment firms.
Crypto-assets Digital assets: the AMF updates its policy on DASPs
Why this matters
This regulatory update from the AMF focuses on updating its policy on digital asset service providers (DASPs), which are firms operating in the crypto and digital assets space.
Asset management Assessing appropriateness and execution only in MiFID II: the AMF applies the ESMA guidelines
Why this matters
This regulatory update from the AMF applies ESMA guidelines on assessing appropriateness and execution only under MiFID II, which is relevant for investment managers and broker-dealers in the capital markets sector. It relates to consumer protection and authorization/licensing requirements.
Sanctions & settlements Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee fined financial investment advisor Séquence 13 and its director Jean-Louis Lehmann €15,000 each and imposed a five-year ban from acting as financial investment advisors in its decision of 19 December 2023, due to failures in client disclosures, justifying remuneration, operating within regulatory limits, and managing conflicts of interest. This enforcement action underscores the AMF's strict enforcement of professional obligations for investment advisors, with personal liability for managers, serving as a deterrent against conduct breaches that harm client interests. Compliance teams should note this as part of a pattern of similar sanctions, emphasizing robust governance and documentation.
Key dates
19 December 2023
- AMF Enforcement Committee decision issued, imposing fines and five-year bans on Séquence 13 and Jean-Louis Lehmann
Suggested considerations
Review and enhance policies: Update procedures for remuneration disclosure, conflict identification/mitigation, and scope-of-activity limits; ensure all advice justifies value against fees.
Training programs: Mandate annual training for directors/managers on professional obligations, documentation, and inspection cooperation, as deficiencies led to personal liability.
Client file audits: Conduct gap analysis on existing client files for disclosure completeness, product suitability, and conflict records; remediate as needed.
Governance checks: Directors must verify firm compliance, implementing detection systems for misconduct (e.g., undocumented investments).
Mock inspections: Prepare for AMF inspections by simulating reviews, focusing on diligence and honesty.
What changed
This is an enforcement decision, not a new regulation, but it reinforces core professional obligations under AMF rules for financial investment advisors (Conseillers en Investissements Financiers,...
Client information on remuneration: Advisors must disclose any remuneration received for advice and justify service improvements relative to that pay.
Regulatory scope compliance: Firms must operate strictly within authorized activities, avoiding unauthorized product recommendations.
Conflict of interest management: Identify and mitigate conflicts to ensure client-best-interest advice.
Manager accountability: Breaches by the firm are attributable to its director, with personal sanctions possible.
These align with ongoing AMF expectations for honest, fair, professional conduct, as...
Compliance impact
Urgency: High - This decision highlights escalating AMF scrutiny on CIFs, with fines, bans, and personal accountability in multiple recent cases (2022-2025), signaling increased inspection risk and potential for director bans. It matters because failures in basic conduct rules lead to severe, long-term sanctions, disrupting operations and reputations; firms must prioritize immediate policy fortification amid AMF's 2026 priorities for resilient markets.
Supervision Asset management Journalists Investment services providers Investment management companies The AMF publishes a summary of its findings regarding the costs and fees of UCITS marketed to retail investors
Why this matters
This regulatory update from the AMF focuses on the costs and fees of UCITS funds marketed to retail investors, which is relevant for asset managers and wealth managers that offer these products.
Asset management The AMF updates its policy on funds with high fees
Why this matters
This regulatory update from the AMF focuses on funds with high fees, which impacts investment management and wealth management firms. It relates to consumer protection and disclosure requirements.
Warning Savings protection Forex and binary options Warning The AMF and the ACPR warn the public against unauthorised Forex trading offers from Omega Pro Ltd
Why this matters
This regulatory update warns the public against unauthorized Forex trading offers from Omega Pro Ltd, which falls under the banking, capital markets, and wealth management sectors. The key topics covered are consumer protection, authorization and licensing, and market abuse.
Asset management War in Ukraine: the AMF alerts asset management companies
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) alerts asset management companies and wealth managers about the impact of the war in Ukraine. It is a warning related to consumer protection and operational resilience concerns for these types of firms.
Sanctions & settlements Investment advice Other professionals Executive & other private individuals Investment services providers The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee fined a financial investment advisor (FIA) firm and its manager for multiple breaches of professional obligations, including failure to provide mandatory documents, inadequate risk disclosure, poor KYC practices, misleading information, unauthorized placing activities, and improper third-party marketing mandates. This enforcement action underscores the AMF's strict scrutiny of FIAs, emphasizing due care, conflict management, and adherence to status limits, with fines and bans serving as deterrents. Compliance teams should review it for lessons on documentation, client suitability, and outsourcing controls to avoid similar sanctions.
Key dates
24 January 2019
AMF Enforcement Committee decision fining Novactifs Patrimoine €250,000 and CEO €100,000 for breaches from March 2014–July 2016
11 April 2022
AMF Enforcement Committee decision imposing 5-year bans and fines (€150,000 firm, €200,000 manager) on DCT/Didier Maurin Finance; appeal dismissed by Conseil d'Etat on 9 September 2024
4 November 2024
AMF fines totaling €5,670,000 on FIA Smart Tréso Conseil, asset managers, and CACEIS Bank for fund marketing/management breaches
5 November 2025
AMF Enforcement Committee decision fining Carat GP and directors €2.5 million total, with permanent/10-year bans (French release: 6 November 2025)
Suggested considerations
Conduct Documentation Audit: Verify all client interactions include mandatory forms (e.g., initial contact, engagement letter, suitability reports) and explicit risk/remuneration disclosures.
Enhance KYC and Suitability Processes: Implement robust know-your-customer checks and product authorization verification before recommendations, especially for non-EU funds or unlisted securities.
Strengthen Conflicts Framework: Maintain a conflicts register, identify/mitigate incentives from issuers, and document procedures.
Review Activity Scope: Confirm no unauthorized placing or marketing beyond FIA status; limit third-party mandates to natural persons and accredited products.
Training and Monitoring: Train managers on personal liability; perform gap analysis against AMF decisions and update policies accordingly.
What changed
This is an enforcement decision, not a regulatory change, but it reinforces and clarifies existing FIA obligations under French regulations (e.g., AMF General Regulation).
Mandatory delivery of initial contact documents, engagement letters, and written reports to clients.
Clear specification of remuneration terms and comprehensive risk information for recommended products.
Thorough KYC to ensure suitability of advice.
Prohibition on misleading information, such as incorrect guarantor details or omission of issuer financial weaknesses.
Compliance impact
Urgency: Medium. This matters as part of a pattern of escalating AMF enforcement against FIAs (fines up to €2.5M, lifetime bans in recent cases), signaling heightened focus on investor protection and governance amid complex products. Firms should prioritize audits now to preempt inspections, but no immediate deadlines apply. Non-compliance risks personal sanctions on executives, reputational damage, and business bans, particularly for smaller advisory firms.
Marketing Investing wisely Retail investors Journalists The ACPR and AMF are urging professionals to improve their practices in online marketing of savings products and financial instruments
Why this matters
This regulatory update from the ACPR and AMF in France is focused on improving practices in the online marketing of savings products and financial instruments, which impacts a range of financial services firms that offer these products to retail investors.
Mediation Annual report Retail investors Journalists The AMF Ombudsman publishes her 2021 Annual Report
Why this matters
This regulatory update from the AMF Ombudsman covers the 2021 annual report, which is likely to be of interest to investment managers, wealth managers, and banks that serve retail investors.
Sanctions & settlements Journalists The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
AI Analysis
The AMF Enforcement Committee imposed significant sanctions on DCT (formerly Didier Maurin Finance) and its manager Didier Maurin for recommending unauthorized alternative investment funds to clients and obstructing regulatory investigations. This case exemplifies critical compliance failures in product authorization verification and client suitability assessment, with enforcement upheld by France's highest administrative court in September 2024.
Key dates
11 April 2022
- AMF Enforcement Committee issued original decision imposing five-year ban and fines
18 July 2022
- Conseil d'État suspended enforcement of fines pending appeal
9 September 2024
- Conseil d'État dismissed appeal, upholding all sanctions and ordering payment of €1,500 each to AMF
Suggested considerations
*Immediate compliance measures for financial investment advisors:
*Product Authorization Audit: Conduct comprehensive review of all recommended products to confirm authorization for marketing in France; document authorization status for each product in client files.
*Pre-Recommendation Due Diligence: Establish mandatory procedures requiring verification of product authorization before any client recommendation; implement checklist systems for compliance documentation.
*Client Suitability Documentation: Maintain written suitability reports for all recommendations, including product features, risks, and alignment with client profiles and objectives.
*Regulatory Cooperation Protocol: Establish procedures ensuring prompt, complete responses to AMF information requests; designate compliance officer responsible for regulatory liaison.
What changed
This enforcement action clarifies several regulatory obligations for financial investment advisors:
Product Authorization Verification: Financial advisors must verify that recommended investment products are authorized for marketing in France before advising clients, regardless of the product's...
Client Interest Prioritization: Recommending unauthorized products is inherently contrary to client interests and constitutes a breach of the duty to act with competence, care, and diligence.
Cooperation with Regulators: Advisors must provide documents and information requested during regulatory investigations; refusal constitutes a separate breach of diligence and loyalty obligations.
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.
Warning Savings protection Warning The AMF warns the public against fraudulent offers to buy listed shares at preferential prices
Why this matters
This regulatory update from the AMF warns the public against fraudulent offers to buy listed shares at preferential prices, which is relevant for banking, investment management, and capital markets firms that may be targeted by such scams.
Warning Savings protection Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Savings protection EBA, ESMA and EIOPA warn consumers on the risks of crypto-assets
Why this matters
This regulatory update from the European supervisory authorities (EBA, ESMA, EIOPA) warns consumers about the risks of crypto-assets, which is relevant for banking, crypto, and consumer credit firms.
Market infrastructures Order Retail investors Market Infrastructures Journalists AMF publishes an analysis of retail investor order execution on French stocks
Why this matters
This regulatory update from the AMF (French financial markets regulator) analyzes the order execution of retail investors on French stocks. This is relevant for capital markets participants, investment managers, and wealth managers who handle retail investor orders.
Sanctions & settlements Executive & other private individuals Journalists Listed companies and issuers The AMF Enforcement Committee sanctions a media company and its director for making investment recommendations without mentioning conflicts of interest and for price manipulation
AI Analysis
The AMF Enforcement Committee sanctioned a media company and its director for issuing investment recommendations without disclosing conflicts of interest and engaging in price manipulation, highlighting the regulator's strict enforcement against market abuse and transparency failures. This case underscores the AMF's focus on protecting investors from misleading practices by non-traditional actors like media outlets, with penalties serving as a deterrent amid rising digital fraud. Compliance teams must prioritize conflict disclosures and surveillance to avoid similar actions, as it reinforces ongoing AMF priorities in conduct and market integrity.
Suggested considerations
Conduct conflict of interest audits: Review all investment recommendations, publications, and marketing materials for undisclosed conflicts; implement mandatory disclosure templates.
Enhance surveillance for market abuse: Deploy monitoring tools for price manipulation indicators, such as unusual trading post-recommendation, and train staff on MAR prohibitions.
Update compliance policies: For media/financial firms, mandate pre-publication reviews of recommendations; directors must personally attest to compliance.
Training programs: Roll out firm-wide training on professional obligations, including clear information provision and acting in client best interests, especially for journalists/influencers.
Inducement reviews: If paying/receiving fees tied to recommendations, demonstrate they improve client service quality via audits and reporting.
What changed
This enforcement decision does not introduce new regulations but reaffirms and clarifies existing requirements under AMF rules and EU Market Abuse Regulation (MAR):
Mandatory conflict of interest disclosure: Investment recommendations must explicitly mention any conflicts, such as financial stakes or relationships influencing the advice, to ensure clear,...
Prohibition on price manipulation: Practices artificially influencing security prices, including through coordinated recommendations, are strictly banned, with liability extending to directors.
These...
Compliance impact
Urgency: High - This matters due to the AMF's escalating enforcement (e.g., record 12 sanction decisions in 2024 affecting 60 entities, €26.5M fines), targeting non-authorized actors like media amid digital fraud surges (181 sites shut down in 2024). Media and advisory firms face director-level liability and bans, amplifying personal risk; immediate policy gaps could trigger investigations, especially with AMF's focus on investor protection and market integrity in 2025-2026.
Asset management Consequences of the Ukrainian crisis: the AMF alerts asset management companies
Why this matters
This regulatory update from the AMF (French financial markets regulator) alerts asset management companies about the consequences of the Ukrainian crisis. It covers prudential and operational resilience issues, as well as consumer protection concerns, which are highly relevant for asset managers, banks, and wealth...
Asset management A liquidator of the funds previously managed by "Nestadio Capital" has been appointed at the request of the AMF
Why this matters
This regulatory update announces the appointment of a liquidator for funds previously managed by Nestadio Capital, at the request of the French financial regulator AMF.
Asset management Savings protection Journalists Investment management companies The AMF announces the creation of a working group on the end-of-life of private equity funds
Why this matters
This regulatory update from the AMF announces the creation of a working group on the end-of-life of private equity funds, which is relevant for investment management firms and wealth managers that offer private equity funds to their clients.
Asset management Prospectus Journalists Investment services providers Investment management companies The AMF proposes measures to promote a wider adoption of liquidity management tools by fund managers
Why this matters
This regulatory update from the AMF proposes measures to promote wider adoption of liquidity management tools by fund managers, which impacts investment management firms and capital markets. The measures relate to prudential requirements and consumer protection.
Asset management Collective investments The AMF updates its policy on the marketing communications of collective investments
Why this matters
This update from the AMF relates to the marketing communications of collective investment schemes, which impacts asset managers and wealth managers. It touches on consumer protection and authorization/licensing requirements.
Long term investment Retail investors Journalists More than one million new retail investors have entered equity markets in France over the last 3 years, according to the AMF's dashboard
Why this matters
This regulatory update discusses the increase in retail investor participation in the French equity markets over the past 3 years, which is relevant for asset managers, broker-dealers, and wealth managers that serve retail clients.
Long term investment Shares Stimulating the diversification of long-term savings: the AMF proposes an educational approach to equity investment
Why this matters
This regulatory update from the AMF focuses on stimulating the diversification of long-term savings through an educational approach to equity investment. It is relevant for investment managers, wealth managers, and banks that offer long-term savings products.
Sanctions & settlements Journalists The AMF Enforcement Committee fines an asset management company for several breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined asset management company Altaroc Partners €600,000 and its senior managers Maurice Tchenio (€500,000) and Patrick de Giovanni (€200,000) on 15 September 2025 for multiple breaches of professional obligations, including lack of operational procedures for fund investments/divestments, inadequate AML/CFT due diligence, unproven benefits of fee retrocessions to distributors, and shortcomings in marketing materials. This decision underscores AMF's focus on operational controls, due diligence, and transparency in asset management, serving as a key enforcement precedent that highlights personal liability for senior managers. Compliance teams must review it to strengthen internal procedures and governance amid rising AMF scrutiny on these issues.
Key dates
15 September 2025
- AMF Enforcement Committee decision issued, imposing fines on Altaroc Partners and managers
16 September 2025
- French version of press release published
Suggested considerations
Implement and document operational procedures for all investment/divestment processes, including third-party authorization checks (e.g., lenders).
Conduct and document systematic AML/CFT due diligence on fund assets/liabilities, ensuring risk mapping and procedures are operational.
Substantiate retrocessions of fees to distributors with evidence of enhanced client services; otherwise, cease or disclose fully.
Review and enhance fund marketing materials for accuracy, comprehensiveness, and non-misleading content.
Senior managers: Demonstrate oversight of compliance functions; conduct gap analyses attributing breaches.
What changed
This is an enforcement action, not a regulatory change introducing new rules; it enforces existing obligations under French financial regulations for asset management companies (sociétés de gestion...
Absence of operational procedures for investment/divestment processes, failing to verify lender authorizations, breaching duties to act honestly, fairly, professionally, with skill, care, and...
Inability to demonstrate that retrocessed management fees to distributors improved client services.
Failure to systematically perform AML/CFT due diligence on fund assets and liabilities.
Shortcomings in fund marketing materials, lacking clear, accurate information.
These align with ongoing AMF expectations for robust internal systems, as seen in similar cases emphasizing operational...
Compliance impact
Urgency: High - This recent (2025) decision signals intensified AMF enforcement on core operational failures in asset management, with total fines of €1.3 million and personal accountability, amid a pattern of similar actions (e.g., M Capital Partners €305,000 in Dec 2025, Eternam €400,000 in Sep 2025). It matters because AMF uses such rulings educationally to clarify expectations, increasing audit risks and penalties for non-compliance; firms without robust procedures face immediate exposure, especially with appeals not suspending applicability.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
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.
Warning Savings protection Atypical products Warning The AMF warns the public against the offerings of UGE Group
Why this matters
This is a warning from the AMF against the offerings of UGE Group, which likely targets retail investors. It is a consumer protection issue related to unauthorized or potentially fraudulent investment products.
Asset management Prospectus The AMF and the Banque de France publish an update of the inventory of liquidity management tools in French funds
Why this matters
This regulatory update from the AMF and Banque de France relates to liquidity management tools in French funds, which is relevant for investment management firms, banks, and wealth managers. It covers prudential and capital requirements, consumer protection, and reporting and disclosure topics.
Sustainable Finance Savings protection Collective investments Responsible finance: the AMF draws an overview of communications practices abroad
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) provides an overview of communications practices related to responsible finance abroad. It covers topics relevant to investment managers, wealth managers, and the broader financial industry in terms of ESG, consumer protection, and disclosure...
Professional certification Sustainable Finance Certification in sustainable finance: the AMF names the first certified training organisations
Why this matters
This regulatory update is related to the certification of training organizations in sustainable finance, which is relevant for asset managers, wealth managers, and banks that offer investment and advisory services. The topics covered include ESG/sustainability, authorization and licensing, and consumer protection.
Asset management Marketing communications under the Regulation on cross-border distribution of funds : the AMF complies with ESMA’s Guidelines
Why this matters
This regulatory update from the AMF relates to marketing communications under the Regulation on cross-border distribution of funds, which is relevant for investment management and wealth management firms. The key topics covered are consumer protection and authorization/licensing requirements.
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
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a consumer protection and authorization issue of high urgency.
Warning Savings protection Crypto-assets Warning The AMF warns against the Initial Coin Offering of the company Air Next
Why this matters
This is a warning from the AMF against the Initial Coin Offering of the company Air Next, which relates to consumer protection and authorization requirements for crypto-asset firms.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
Crypto-assets Savings protection AMF is warning retail investors on the importance of consulting the white list of digital asset service providers (DASPs)
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France is warning retail investors about the importance of consulting the white list of approved digital asset service providers (DASPs). This relates to consumer protection and the licensing/authorization of crypto firms operating in the market.
MMF The AMF publishes a study about potential explanatory variables for the record outflows that French MMFs faced in March 2020
Why this matters
This regulatory update from the AMF (French financial regulator) focuses on potential explanatory variables for the record outflows that French money market funds (MMFs) faced in March 2020.
Financial analysis The AMF emphasises the importance of independence in financial analysis
Why this matters
This regulatory update from the AMF emphasizes the importance of independence in financial analysis, which is relevant for asset managers, broker-dealers, and banks involved in investment management and capital markets activities.
Warning Savings protection Financial Scams Warning The AMF urges retail investors to exercise extreme caution towards proposals to invest in rooms in care homes
Why this matters
This regulatory update from the AMF warns retail investors to exercise caution towards proposals to invest in rooms in care homes, indicating potential risks or scams in this investment area. This is relevant for investment managers, wealth managers, and the broader investing public.
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF relates to companies offering unauthorized investment products, which poses risks to consumers and requires regulatory action.
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 regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which falls under the banking, crypto, and capital markets sectors. The key topics are consumer protection and authorization requirements.
Warning Savings protection Asset management Investment advice Warning The AMF warns the public against Sinclair Upton Capital Management
Why this matters
This is a warning from the AMF against Sinclair Upton Capital Management, which appears to be an asset manager and wealth manager. The warning relates to consumer protection and the firm's authorization/licensing, indicating potential regulatory issues.
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
Why this matters
This regulatory update warns the public against unauthorized entities offering investments in Forex and crypto-asset derivatives in France, which impacts banking, investment management, and crypto firms. It is a high urgency issue related to consumer protection and licensing requirements.
Warning Savings protection Miscellaneous assets Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF relates to unauthorized firms offering atypical investments, which poses risks to consumers and requires regulatory action.
Warning Savings protection Warning Financial Scams The AMF, AFG, ASPIM, France Invest, Anacofi, Cie CIF, CNCGP and CNCIF warn the public against an upsurge in the theft of names of authorised market players
Why this matters
This regulatory update warns the public about an increase in the theft of names of authorized market players, which poses a significant risk of financial scams and fraud targeting consumers.
Warning Savings protection Warning The AMF and the ACPR warn the public against the activities of several entities offering investments in Forex and in crypto-assets derivatives in France without being authorized to do so
Why this matters
This is a warning from the French financial regulators AMF and ACPR about unauthorized entities offering investments in Forex and crypto-asset derivatives in France. This is a consumer protection issue and relates to firms operating without proper authorization.
Warning Savings protection Miscellaneous assets Warning Miscellaneous assets: the AMF adds to its black list and, for the first time, has access blocked to unauthorised websites
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) warns about unauthorized financial services providers and adds them to a blacklist. It also indicates that the AMF has gained the ability to block access to these unauthorized websites.
Warning Savings protection Warning The AMF urges investors to exercise the greatest vigilance towards proposals to invest in containers
Why this matters
This regulatory update from the AMF warns investors to exercise caution towards proposals to invest in containers, which suggests potential risks or concerns around such investments.
Warning Savings protection The AMF urges retail investors to exercise the greatest vigilance towards certain activities proposed by Laurent Chenot
Why this matters
This warning from the AMF urges retail investors to exercise caution towards certain activities proposed by Laurent Chenot, which suggests potential consumer protection and authorization issues in the banking, investment management, and wealth management sectors.
Warning Savings protection The AMF warns the public against Vuelex
Why this matters
This is a warning from the AMF against the firm Vuelex, which likely operates in the banking, investment management, and wealth management sectors. The warning focuses on consumer protection and authorization/licensing issues, making it relevant for banks, wealth managers, and fintechs.
Warning Savings protection The AMF warns the public against ELG Capital Partners and its website www.elgcapitalpartners.fr
Why this matters
This is a warning from the AMF (French financial markets regulator) against the firm ELG Capital Partners and its website, indicating potential unauthorized investment activities targeting the public. This is a high urgency issue related to consumer protection and licensing requirements for investment firms.
Warning Savings protection Crypto-assets Derivatives or structured products The AMF and the ACPR warn the public against the activities of several entities proposing in France forex investments and investment services in crypto-assets derivatives without being authorized to do so
Why this matters
This warning from the AMF and ACPR is regarding unauthorized entities offering forex investments and crypto-asset derivative services in France, which poses risks to consumers and the integrity of the financial markets. It is a high priority issue requiring prompt action.
Warning Savings protection The AMF is warning the public against several companies proposing atypical investments or offering binary options trading without being authorized to do so
Why this matters
This regulatory update from the AMF warns the public against unauthorized companies offering atypical investments and binary options trading, which poses risks to consumers and could involve market abuse.
Warning Savings protection The AMF announces the referral of two investigation files on “boiler room marketing” to the National Financial Prosecutor’s Office
Why this matters
This regulatory update from the AMF (French financial markets regulator) announces the referral of two investigation files on 'boiler room marketing' to the National Financial Prosecutor's Office.
Warning Savings protection Crypto-assets Warning The AMF warns the public about the Cash Flash initial coin offering
Why this matters
This is a warning from the AMF about an initial coin offering for Cash Flash, which is related to the crypto and digital assets sector. The warning focuses on consumer protection and the authorization/licensing of the offering, indicating high urgency for crypto firms and fintechs.
Warning Savings protection Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF relates to unauthorized firms offering atypical investment products, which poses risks to consumers and requires regulatory action.
Warning Savings protection Crypto-assets Derivatives or structured products The AMF and the ACPR warn the public against the activities of several entities proposing in France via their websites, without being authorized to do so, forex investments and investment services in...
Why this matters
This regulatory update warns the public against unauthorized entities offering forex investments and crypto-asset derivative services in France, which poses risks to consumers and requires prompt action by regulators.
Warning Savings protection The AMF draws the public’s attention to pyramid structures proposing training courses in trading
Why this matters
This regulatory update from the AMF warns the public about pyramid structures offering trading training courses, which indicates potential consumer protection and market abuse concerns. It is relevant for asset managers, broker-dealers, and wealth managers who may be impacted by these pyramid schemes.
Warning Savings protection The AMF urges investors to exercise extreme caution towards proposals to invest in car parks
Why this matters
This warning from the AMF urges investors to exercise caution towards proposals to invest in car parks, which suggests potential risks or concerns around such investments.
Warning Savings protection Forex and binary options The AMF and the ACPR warn the public against the activities of several entities proposing in France via their websites, without being authorized to do so, forex investments and investment services in crypto-assets derivatives
Why this matters
This regulatory update warns the public against unauthorized entities offering forex investments and crypto-asset derivative services in France, which impacts banking, investment management, and crypto firms that must be properly licensed to operate in these areas.
Warning Covid-19 Savings protection Financial Scams The AMF and the ACPR warn the public of the risks of scams in the context of the coronavirus epidemic
Why this matters
This regulatory update warns the public about financial scams related to the coronavirus epidemic, which is relevant for banking, investment management, and wealth management firms as well as the general public. It covers consumer protection, AML/financial crime, and operational resilience topics.
Warning Savings protection The Autorité des Marchés Financiers is calling on retail investors to exercise utmost vigilance with regard to whisky investment offers
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) in France is warning retail investors about potential whisky investment offers, which falls under the banking, investment management, and wealth management sectors.
Warning Savings protection The Autorité des Marchés Financiers (AMF) is warning the public against the entity and the website Magaffairs
Why this matters
This is a warning from the AMF against an entity called Magaffairs, which likely indicates concerns around unauthorized or fraudulent financial activities targeting consumers.
Warning Savings protection Crypto-assets Derivatives or structured products Forex and binary options Warning The Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Résolution warn the public against the activities of several websites...
Why this matters
This regulatory update warns the public against the activities of several websites and entities proposing forex investments or online investment services in France, which falls under the regulatory oversight of the AMF and ACPR.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) is warning the public against several companies proposing atypical investments or offering binary options trading without being authorized to do so
Why this matters
This warning from the AMF relates to unauthorized firms offering binary options trading and atypical investments, which poses risks to consumers. It covers firms in the banking, investment management, and capital markets sectors, and is relevant to broker dealers, fintechs, and all financial firms more broadly.
Warning Warning Savings protection Atypical products The Autorité des Marchés Financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF relates to unauthorized firms offering atypical investment products, which poses risks to consumers and requires prompt action by the regulator.
Warning Savings protection The Autorité des marchés financiers calls on retail investors to exercise the greatest vigilance in usurpation cases
Why this matters
This regulatory update from the Autorité des marchés financiers (AMF) in France warns retail investors about cases of usurpation, which relates to financial crime and consumer protection issues. It is targeted at banks, wealth managers, and fintech firms that serve retail investors.
Warning Savings protection The Autorité des marchés financiers issues a public warning about the website www.sogevis.com
Why this matters
This warning from the AMF relates to the website www.sogevis.com, which appears to be offering unauthorized financial services. This poses a risk to consumers and requires urgent action from the regulator to protect the public.
Warning Warning Savings protection The Autorité des marchés financiers issues a public warning about the website www.holakredit.com
Why this matters
This warning from the AMF relates to the website www.holakredit.com, which appears to be offering financial services without proper authorization. This poses a risk to consumers and requires urgent action from the regulator.
Warning Warning Savings protection The Autorité des Marchés Financiers (AMF) warns the public against the activities of certain websites offering to sell shares of La Française des Jeux without authorisation
Why this matters
This warning from the AMF relates to unauthorized activities involving the sale of shares in La Française des Jeux, which is relevant to investment management, capital markets, and firms that engage in securities trading and wealth management.
Warning Savings protection AMF warns the public about an aggressive marketing technique called "boiler room"
Why this matters
This warning from the AMF (French financial markets regulator) relates to an aggressive marketing technique called 'boiler room', which targets retail investors. This falls under consumer protection, market abuse, and licensing/authorization topics, and impacts a range of financial firms that interact with retail...
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is directed at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the company and the website Vanilla Golden Trade
Why this matters
This is a warning from the AMF against the company and website Vanilla Golden Trade, which likely indicates concerns around unauthorized or fraudulent financial activities targeting consumers.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, investment management, and capital markets sectors. It touches on consumer protection, authorization and licensing requirements, as well as market abuse concerns.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This is a warning from French financial regulators about unauthorized forex investment activities, which poses risks to consumers and requires firms to be properly licensed to operate.
Warning Savings protection Crypto-assets Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de resolution (ACPR) warn the public about a number of unauthorised online investment services in France for derivatives whose underlyings include crypto...
Why this matters
The regulatory update warns the public about unauthorized online investment services involving crypto-asset derivatives, which falls under the oversight of the AMF and ACPR. This poses risks to consumers and requires action from regulated financial firms in these sectors.
Warning Savings protection The Autorité des Marchés Financiers warns the public about the websites www.lascpi.fr and www.scpi-gouv.fr improperly using its name and logo
Why this matters
This warning from the AMF relates to unauthorized use of its name and logo on websites, which could mislead consumers about the legitimacy of the services offered. This is a consumer protection issue that impacts investment management and banking firms.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) warns the public against the company KUVERA LLC/KUVERA France
Why this matters
This is a warning from the AMF against the company KUVERA LLC/KUVERA France, which likely indicates concerns around unauthorized or fraudulent investment activities targeting consumers. This is a high urgency issue related to consumer protection and licensing requirements for financial firms.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is directed at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from regulators.
Warning Savings protection Crypto-assets Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de resolution (ACPR) warn the public about a number of unauthorised online investment services in France for derivatives whose underlyings include crypto...
Why this matters
The regulatory update warns the public about unauthorized online investment services in France that involve crypto-asset derivatives. This impacts banking, investment management, and crypto firms, and raises concerns around consumer protection, licensing, and market abuse.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant for broker dealers, wealth managers, and fintech firms operating in the forex and investment management space.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the website www.porto-immo.com
Why this matters
This warning from the AMF relates to a website that may be engaging in unauthorized financial activities, which poses risks to consumers. It is relevant for banks and wealth managers who need to be aware of such scams and protect their clients.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the website www.parel-gestion.net
Why this matters
This is a warning from the AMF against a website, indicating potential consumer protection and authorization issues related to investment management and wealth management activities.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is targeted at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Warning Savings protection Crypto-assets Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de resolution (ACPR) warn the public about a number of unauthorised online investment services in France for derivatives whose underlyings include crypto...
Why this matters
The regulatory update warns the public about unauthorized online investment services involving crypto-asset derivatives, which falls under the jurisdiction of the AMF and ACPR. This poses risks to consumers and requires action from regulated financial firms in the banking, investment management, and crypto sectors.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the entity MAG Asset and the website www.magasset.com
Why this matters
This is a warning from the AMF against the entity MAG Asset and its website, which suggests potential consumer protection and unauthorized activity concerns in the investment management and crypto/digital asset sectors.
Warning Savings protection The Autorité des marchés financiers warns the public about case of fraudulent use of the names and contact details of the SICAV Objectif Finance Investissements (OFI)
Why this matters
This is a warning from the AMF about fraudulent use of the names and contact details of the SICAV Objectif Finance Investissements (OFI), which is relevant for investment management and wealth management firms. It relates to consumer protection and authorization/licensing issues, so the urgency is high.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the activities of ECI Luxembourg and the website www.eci-luxembourg proposing investment services without being authorized to do so
Why this matters
This warning from the AMF relates to unauthorized investment services, which poses risks to consumers and requires prompt action from regulators to protect the public.
Warning Savings protection The AMF issues a public warning about the website https://capitalncl.com/
Why this matters
This warning from the AMF relates to the website capitalncl.com, which appears to be offering unauthorized investment services. This poses a risk to consumers and requires prompt action by the regulator.
Warning Savings protection Crypto-assets Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de resolution (ACPR) warn the public about a number of unauthorised online investment services in France for derivatives whose underlyings include crypto...
Why this matters
The regulatory update warns the public about unauthorized online investment services in France involving crypto-asset derivatives, which falls under the oversight of the AMF and ACPR.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is targeted at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This is a warning from French financial regulators about unauthorized forex investment activities, which impacts firms in the banking, investment management, and wealth management sectors. It relates to consumer protection and the need for proper authorization to offer these services.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) are warning the public against the activities of Patrimoine Gestion Management and PGM Patrimoine
Why this matters
This is a warning from the French financial regulators AMF and ACPR against the activities of two firms, Patrimoine Gestion Management and PGM Patrimoine, which likely indicates potential consumer protection and licensing issues in the banking, investment management, and wealth management sectors.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the activity of AGRONOMIX and its French subsidiary AGRONOMIX FRANCE
Why this matters
This warning from the AMF relates to the activities of AGRONOMIX and its French subsidiary, which likely involve investment management and wealth management services. The warning is focused on consumer protection and the firms' authorization/licensing status, indicating potential regulatory concerns.
Warning Savings protection The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) would like to warn the public about a number of unauthorised online investment services in France for derivatives whose underlyings include crypto assets.
Why this matters
This regulatory update from the AMF and ACPR warns the public about unauthorized online investment services in France involving crypto asset derivatives. This is a high urgency issue as it relates to consumer protection, proper licensing, and potential market abuse in the crypto and digital assets sector.
Warning Savings protection Warning The Autorité des marchés financiers warns the public about cases of the fraudulent use of its name and contact details by a certain Stéphane Delaplace
Why this matters
This warning from the AMF relates to the fraudulent use of its name and contact details, which poses a risk to consumers and could be part of a financial crime scheme. It is relevant to banking, wealth management, and fintech firms that may be impersonated.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper authorization for such firms to operate.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is targeted at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Warning Savings protection Warning AMF warns the public about aggressive "boiler room" direct marketing
Why this matters
This warning from the AMF relates to aggressive 'boiler room' direct marketing tactics, which pose risks to consumers and could involve unauthorized financial activities. It is relevant for asset managers, wealth managers, and banks that need to be aware of these practices and take steps to protect their clients.
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the activities of the website https://epargne-eco.fr/
Why this matters
This warning from the AMF relates to the activities of a website offering financial services, which falls under the regulatory oversight of the banking, investment management, and wealth management sectors. The key topics involved are consumer protection and authorization/licensing requirements.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is warning the public against several companies proposing atypical investments without being authorized to do so
Why this matters
This warning from the AMF is targeted at companies offering atypical investments without proper authorization, which poses risks to consumers and requires urgent attention from relevant financial firms.
Warning Savings protection Crypto-assets Atypical products Warning The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized companies proposing atypical investments without being authorised to do so
Why this matters
This regulatory update from the AMF warns about unauthorized companies offering atypical investments, which is a consumer protection and authorization issue for crypto and fintech firms.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR) are warning the public against the activities of bil patrimoine and the website www.bil-gestionpatrimoine.com proposing investment services and savings...
Why this matters
This is a warning from the French financial regulators AMF and ACPR against the activities of bil patrimoine, which appears to be offering unauthorized investment and savings services. This poses a risk to consumers and requires urgent action.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering diamond investments
Why this matters
This warning from the AMF relates to unauthorized websites offering diamond investments, which falls under the investment management, wealth management, and capital markets sectors. The key topics covered are consumer protection, licensing requirements, and market abuse.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant to banking, investment management, and wealth management firms, as well as fintechs operating in this space.
Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the company International Markets Live LTD (IMarketsLive)
Why this matters
This warning from the AMF relates to potential misconduct by the firm International Markets Live LTD, which operates in the investment and trading space. It raises concerns around consumer protection, licensing, and market abuse, impacting broker dealers, wealth managers, and fintech firms.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital asset sectors.
Warning Warning Atypical products Savings protection Buying Bitcoin: the AMF and the ACPR issue a warning to savers
Why this matters
This regulatory update from the AMF and ACPR is a warning to savers about the risks of buying Bitcoin, which is classified as an atypical product. It covers consumer protection, licensing requirements, and prudential concerns for banks, crypto exchanges, and fintech firms involved in this space.
Warning Savings protection Atypical products Warning The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized companies proposing atypical investments without being authorized to do so
Why this matters
This regulatory update from the AMF warns about unauthorized companies offering atypical investments, which is a consumer protection and authorization issue for firms in the banking, investment management, and wealth management sectors.
Warning Savings protection The AMF issues a warning about the website https://crowd-partners.com/
Why this matters
This warning from the AMF relates to the website https://crowd-partners.com/, which appears to be offering investment services without proper authorization. This poses a risk to consumers and requires urgent attention from relevant firms in the banking, wealth management, and fintech sectors.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant for banking, investment management, and wealth management firms, as well as fintechs operating in this space.
Warning Savings protection Miscellaneous assets Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering diamond investments
Why this matters
This warning from the AMF relates to unauthorized websites offering diamond investments, which falls under the investment management, wealth management, and capital markets sectors. The key topics covered are consumer protection, authorization and licensing requirements, and market abuse/surveillance.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the activities of "Naftoil" and its director Mr Raphael Comté proposing investments services without being authorized to do so
Why this matters
The warning from the AMF relates to unauthorized investment services being offered, which poses risks to consumers and requires regulatory action.
Warning Savings protection The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized diamond investments platforms
Why this matters
This regulatory update from the AMF warns about unauthorized diamond investment platforms, which falls under the investment management, wealth management, and capital markets sectors. The key topics are consumer protection and authorization/licensing requirements.
Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the activities of www.chs-capital.com engaging in unauthorized investment services
Why this matters
This warning from the AMF relates to unauthorized investment services, which falls under the investment management, wealth management, and capital markets sectors. The key topics are consumer protection and authorization/licensing, as the firm is operating without proper authorization.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options
Why this matters
This regulatory update from the AMF warns against the activities of unauthorized websites offering binary options, which falls under the banking, investment management, and capital markets sectors. It relates to consumer protection, authorization and licensing requirements, as well as market abuse and surveillance.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant to banking, investment management, and wealth management firms, as well as fintechs operating in this space.
Warning Savings protection The Autorité des marchés financiers warns once again the public about proposals to invest in diamonds
Why this matters
This is a warning from the French financial regulator AMF about proposals to invest in diamonds, which falls under the banking, investment management, and wealth management sectors. It relates to consumer protection and authorization/licensing requirements for firms offering such investment products.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant for broker dealers, wealth managers, and fintech firms operating in the forex and investment management space.
Warning Savings protection Warning The Autorité des marchés financiers (AMF) issues a public warning issues a public warning against the activity of unauthorized websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, investment management, and capital markets sectors. It touches on consumer protection, licensing, and market abuse issues, and is relevant to broker dealers, fintechs, and all financial firms.
Warning Savings protection The Autorité des marchés financiers (AMF) advises the clients of the website eu.bancdebinary.com to contact Banc de Binary Ltd, the owner of these websites, as soon as possible
Why this matters
This warning from the AMF advises clients of the website eu.bancdebinary.com to contact the owner, Banc de Binary Ltd, as soon as possible. This indicates potential consumer protection and authorization issues related to the firm's operations, which would be of high importance to broker dealers and wealth managers...
Warning Savings protection The Autorité des marchés financiers warns the public about the product "VIAGEFI 6 LIMITED"
Why this matters
This warning from the AMF relates to a specific investment product called 'VIAGEFI 6 LIMITED', which falls under the regulatory oversight of the banking, investment management, and wealth management sectors.
Warning Savings protection The Autorité des marchés financiers warns the public about proposals to invest in diamonds
Why this matters
This warning from the AMF relates to proposals to invest in diamonds, which could impact investment firms, wealth managers, and banks that offer or promote such investment products. It is focused on consumer protection and the need for proper authorization and licensing for such investment offerings.
Warning Savings protection The Autorité des Marchés Financiers (AMF) advises the clients of the websites www.ytftradeltd.com, www.investing-area.com, www.buzztrade.com, www.binaryroyal.com and www.cfdroyal.com to contact AirFinance Pro Ltd, the owner of these websites, as soon as possible
Why this matters
This regulatory update from the AMF warns clients of several websites to contact the owner, AirFinance Pro Ltd, as soon as possible. This indicates potential consumer protection issues and unauthorized/unlicensed financial activities, which are high priority concerns for regulators.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorized websites offering binary options trading
Why this matters
The AMF is warning the public against unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection Forex and binary options Warning The Autorité des marchés financiers and the Autorité de contrôle prudentiel et de résolution warn the public against the activities of several websites and entities proposing forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized forex investment activities, which poses risks to consumers and requires proper licensing and authorization. It is relevant for broker dealers, wealth managers, and fintech firms operating in the forex and investment management space.
Warning Savings protection The Autorité des marchés financiers (AMF) issues a public warning concerning communication from BLUE STONE LTD and companies related to it with respect to diamond investment offers
Why this matters
This warning from the AMF relates to potential investment scams involving diamond offers, which poses risks to retail investors. It covers firms involved in investment management, wealth management, and capital markets activities. The key topics are consumer protection, licensing, and market abuse surveillance.
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns the public about the 'KEYSTONE FUND'
Why this matters
This is a warning from the AMF about the 'KEYSTONE FUND', which indicates potential consumer protection and market abuse issues. It is relevant for investment managers, wealth managers, and broker-dealers that may be involved with or promoting this fund.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This is a warning from French regulators about unauthorized Forex investment activities, which is relevant for banking, investment management, and wealth management firms. It relates to consumer protection and the need for proper authorization to offer these services.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading
Why this matters
The AMF is warning the public against unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading
Why this matters
The AMF is warning the public against unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection The Autorité des Marchés Financiers (AMF) advises the clients of the websites www.interactiveoption.com, www.interactive-option.com, www.hellobrokers.com, www.mtxplus.com and www.pegasecapital.com to contact Pegase Capital Ltd, the owner of these websites, as soon as possible
Why this matters
This regulatory update from the AMF warns clients of several websites to contact the owner, Pegase Capital Ltd, as soon as possible. This indicates potential issues with these firms' authorization and licensing, as well as concerns around consumer protection and reporting requirements.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which is a critical consumer protection issue for banking, investment management, and wealth management firms, as well as fintech providers in this space.
Warning Savings protection The Autorité des Marchés Financiers (AMF) issues a general public warning about sites touting the benefits of an algorithm and linking to a trading platform, and a specific warning about Preditrend
Why this matters
The AMF has issued a general public warning about sites promoting the benefits of an algorithm linked to a trading platform, as well as a specific warning about Preditrend.
Warning Savings protection AMF warns investors about MTL Index
Why this matters
This regulatory update from the AMF warns investors about the MTL Index, which likely has implications for investment firms and banks in terms of consumer protection, prudential requirements, and reporting obligations.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading
Why this matters
The AMF is warning the public against unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns investors about binary options platforms copying the official information of duly regulated companies
Why this matters
This warning from the AMF relates to binary options platforms that are copying the information of regulated companies, which poses risks to investors. It covers topics of consumer protection, market abuse, and licensing requirements, and is relevant for broker dealers and crypto exchanges operating in the capital...
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which impacts banking, investment management, and wealth management firms, as well as fintech firms offering these services. It relates to consumer protection and the need for proper authorization and licensing.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which is a critical consumer protection issue for banking, investment management, and wealth management firms, as well as fintech providers in this space.
Warning Savings protection The Autorité de contrôle prudentiel et de résolution (ACPR), the Autorité des marchés financiers (AMF) and the General Directorate for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) warn the public about "Plan B" and the website BourseBinaire.fr
Why this matters
This regulatory update from the French financial authorities ACPR, AMF, and DGCCRF warns the public about potential fraudulent investment schemes, which is a critical consumer protection issue for banking, investment management, and wealth management firms.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of unauthorised websites offering binary options trading
Why this matters
This warning from the AMF relates to unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital asset sectors.
Warning Savings protection AMF urges caution when investing in SCPI shares under the Malraux and Real Estate Loss regimes
Why this matters
The AMF is warning investors about risks when investing in certain real estate investment vehicles, which impacts asset managers and wealth managers offering these products.
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns investors about GLOBAL METAL BROKER
Why this matters
This is a warning from the AMF about the firm GLOBAL METAL BROKER, which is likely operating without proper authorization. This impacts broker dealers and could involve consumer protection and market abuse issues.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors.
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns about persons using its name and logo and impersonating the Ombudsman and her deputy
Why this matters
This warning from the AMF relates to individuals impersonating the regulator and its Ombudsman, which poses risks to consumers and firms in the banking, investment management, and wealth management sectors. It requires urgent attention to protect against potential financial crime and consumer harm.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital assets sectors. It relates to consumer protection, authorization and licensing requirements, as well as market abuse and surveillance.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which is a critical consumer protection issue for banking, investment management, and wealth management firms, as well as fintech providers in this space.
Warning Savings protection The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of 14 unauthorised websites and operators
Why this matters
This warning from the AMF relates to unauthorized financial services websites and operators, which poses risks to consumers and could involve market abuse. It is relevant for a range of financial firms that provide investment and wealth management services, as well as banks and fintechs that may be impersonated.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and speculative investment product. This impacts firms in the banking, investment management, and capital markets sectors, particularly broker-dealers and fintechs.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and The Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This is a warning from French regulators about unauthorized Forex investment activities, which impacts banking, investment management, and wealth management firms as well as fintech firms. It relates to consumer protection and authorization/licensing requirements.
Warning Savings protection Warning The Autorité des Marchés Financiers (AMF) is warning the public against sites misusing its name and logo and redirecting to binary option trading platforms.
Why this matters
This warning from the AMF relates to firms misusing the regulator's name and logo to redirect users to binary options trading platforms, which are a high-risk investment product. This poses a significant consumer protection risk and could involve unauthorized firms operating in the market.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and The Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which is a critical consumer protection issue for banking, investment management, and wealth management firms, as well as fintech providers.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and speculative investment product. This impacts banking, investment management, and capital markets firms that may be involved in or exposed to such activities.
Warning Savings protection Warning The French Prudential Supervisory Authority and the Autorité des Marchés Financiers warns the public against the company EMIRATES PACIFIC GROUP
Why this matters
This is a warning from the French regulators against the company Emirates Pacific Group, which likely operates in the banking, investment management, and wealth management sectors. The warning is focused on consumer protection and the firm's authorization/licensing status, indicating high urgency for the public.
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns the public against the company GET EASY
Why this matters
This is a warning from the AMF against the company GET EASY, which likely indicates concerns around unauthorized or fraudulent financial activities targeting consumers. This requires high urgency for firms in the banking, wealth management, and fintech sectors to be aware of the potential risks.
Warning Warning Financial disclosures & corporate financing The Autorité des Marchés Financiers (AMF) has issued a public warning against the activities of individuals impersonating the delegate of the AMF Ombudsman by making false referrals to FIN-NET, the European Commission body in charge of...
Why this matters
This warning from the AMF is critical for firms in the banking, investment management, and wealth management sectors, as it relates to impersonation of the AMF Ombudsman and false referrals to FIN-NET. This could impact consumer protection, licensing, and reporting requirements for these firms.
Warning Savings protection Warning The Autorité des Marchés Financiers issues a public warning against the activities of the group CO&H Ltd
Why this matters
This is a public warning from the French financial regulator AMF against the activities of the group CO&H Ltd, which likely indicates concerns around unauthorized or potentially fraudulent investment activities targeting retail consumers.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and The Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so.
Why this matters
This regulatory update warns the public against unauthorized Forex investment activities, which is a critical consumer protection issue for banking, investment management, and wealth management firms.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and potentially fraudulent activity. It impacts a range of financial firms, including brokers, fintechs, and other firms that may be involved in or affected by binary options trading.
Warning Savings protection The AMF warns investors about Algorates Limited
Why this matters
This warning from the AMF relates to potential investor protection issues with the firm Algorates Limited, which appears to be an investment management or wealth management firm, potentially with a fintech component. The warning indicates high urgency for investors to be aware of this firm.
Warning Savings protection Warning The AMF warns investors against the activities of CAC Invest
Why this matters
This is a warning from the AMF (French financial regulator) against the activities of CAC Invest, which appears to be an investment firm targeting retail investors. The warning indicates potential consumer protection and authorization issues, making this a high urgency matter for the affected firm types.
Warning Savings protection Forex and binary options Warning The Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so.
Why this matters
This is a warning from French regulators about unauthorized Forex investment activities, which impacts banking, investment management, and wealth management firms. It relates to consumer protection and the need for proper authorization to offer these services.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and potentially fraudulent activity. It impacts a range of financial firms, including brokers, fintechs, and other firms that may be involved in or affected by binary options trading.
Warning Savings protection Warning The Autorité des Marchés Financiers (AMF) warns the public about the activities of individuals claiming to work for the AMF
Why this matters
This regulatory update from the AMF warns the public about individuals claiming to work for the AMF, which is a critical consumer protection and market integrity issue for regulated financial firms in the banking, investment management, and capital markets sectors.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which falls under the banking, capital markets, and crypto/digital asset sectors.
Warning Savings protection Warning The Autorité des Marchés Financiers (AMF) warns the public about the activities of individuals claiming to work for the AMF
Why this matters
This warning from the AMF relates to individuals falsely claiming to represent the regulator, which could lead to consumer harm and potential financial crime. It is relevant for a wide range of financial firms as well as individual consumers.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and potentially fraudulent activity. It impacts various financial firms that may be involved in or affected by such unauthorized activities, including broker-dealers, fintechs, and the broader...
Warning Savings protection The AMF denounces the use of its name in a news release by LinGold.com S.A., which operates the InvestDiamond.com platform
Why this matters
This regulatory update from the AMF warns about the unauthorized use of its name by the platform InvestDiamond.com, which is operated by LinGold.com S.A. This relates to consumer protection and licensing issues in the crypto/digital assets sector.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which falls under the capital markets and crypto/digital assets sectors. It relates to consumer protection and the need for proper authorization and licensing, impacting broker dealers and crypto exchanges.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Résolution warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so.
Why this matters
This is a warning from French financial regulators about unauthorized Forex investment activities, which impacts banking, investment management, and wealth management firms. It relates to consumer protection and the need for proper authorization to offer these services.
Warning Savings protection The Autorité des Marchés Financiers warns the public against pyramid scheme investment offers
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) warns the public against pyramid scheme investment offers, which is relevant for banking, investment management, and wealth management firms.
Warning Savings protection Forex and binary options Warning The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which falls under the capital markets and crypto/digital assets sectors. It relates to consumer protection and the need for proper authorization and licensing, impacting broker dealers and crypto exchanges.
Warning Savings protection The Autorité des Marchés Financiers warns the public against the company PRIVATE CAPITAL
Why this matters
This is a warning from the French financial regulator AMF against the company PRIVATE CAPITAL, which likely indicates concerns around unauthorized or unregulated financial activities targeting consumers. This is a high urgency issue for banks and wealth managers to be aware of.
Warning Savings protection The Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Résolution warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This is a warning from French financial regulators about unauthorized Forex investment activities, which poses risks to consumers and requires urgent attention from regulated financial firms in the banking, investment, and wealth management sectors.
Warning Savings protection The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and potentially fraudulent activity. It impacts a range of financial firms, including brokers, fintechs, and other firms that may be involved in or affected by this type of activity.
Warning Savings protection The Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Résolution warn the public against the activities of several websites and entities proposing Forex investments without being authorised to do so
Why this matters
This is a warning from French financial regulators about unauthorized Forex investment activities, which impacts banking, investment management, and wealth management firms as well as fintechs. It relates to consumer protection and the need for proper authorization to offer such services.
Warning Savings protection The Autorité des Marchés Financiers (AMF) updates the list of unauthorised websites offering binary options trading
Why this matters
This regulatory update from the AMF warns about unauthorized websites offering binary options trading, which is a high-risk and potentially fraudulent activity. It impacts a range of financial firms, including brokers, fintechs, and other firms that may be involved in or affected by binary options trading.