Wealth & Private Banking regulatory updates from France.
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
Sanctions & settlements professional obligations Journalists Investment management companies Listed companies and issuers AMF Enforcement Committee fines the depositary CACEIS Bank for breaches of its professional obligations
The AMF Enforcement Committee fined CACEIS Bank €3.5 million and issued a warning on 17 December 2025 for breaches of its professional obligations as depositary for seven French-law UCITS funds managed by H2O AM LLP (later transferred to H2O AM Europe). This decision underscores the AMF's strict enforcement of depositary oversight duties, particularly in verifying fund managers' investment monitoring systems, asset valuations, and compliance with prospectus constraints like issuer limits and security ratings. It matters for compliance teams as it highlights personal accountability risks and potential fines for inadequate due diligence in fund depositary roles, signaling heightened scrutiny amid past H2O fund issues. #
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
Governance Annual report Executive & other private individuals Journalists Listed companies and issuers The AMF examines the transparency of executive succession plans as part of its 2025 Corporate Governance Report
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...
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...
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. #
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
Warning Warning Savings protection The AMF warns the public against fraudulent communications offering investment services impersonating Financière du Nogentais
Europe & international Sanctions & settlements Publication of the annual ESMA Report on Sanctions and Measures for 2024: AMF imposes the highest amounts in Europe
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. #
Supervision Asset management Governance Journalists Investment management companies The Autorité des Marchés Financiers publishes the findings of its thematic inspections on governance and role of senior managers at asset management companies
Savings protection Warning Retail investors Journalists Listed companies and issuers AMF announces resumption of trading in Mexedia shares
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.
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
Warning Savings protection Warning The AMF warns the public about group chats providing tips on shares
Supervision Other professionals Fintech Market Infrastructures Professional investors Journalists Investment management companies Listed companies and issuers European supervision of capital markets: the AMF calls for an enhanced...
Savings protection Withdrawal of KOREGRAF's authorisation as a crowdfunding service provider
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
Shares ETF Retail investor activity in equities at its highest since 2020
Asset management Marketing PRIIPs The AMF reminds distributors of their requirements regarding marketing of investment fund
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...
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
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
Shares ETF Retail investor activity up again
Governance Journalists Listed companies and issuers Women on Boards Directive: the AMF is now the competent authority for analysing and monitoring gender balance among the directors of listed companies
Fees Shares Collective investments AMF Household Savings Newsletter: financial investment fees continue their downward trend
Cooperation Europe & international The AMF applies the joint guidelines issued by the European Supervisory Authorities to facilitate the exchange of information between National Competent Authorities
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
Marketing Investment advice The AMF reminds financial investment advisors of their professional obligations when using financial product listing platforms
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
Asset management Journalists Investment management companies The AMF introduces a fast-track approval procedure for “defence” investment funds
Employee savings scheme Employee savings: a high level of satisfaction but a persistent need for support
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
Asset management Publication of the 2023 asset management key figures report
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...
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.
Shares ETF ETFs: strong growth for retail investors in 2024
Asset management Marketing Publication of the first study on the performance of unlisted financial asset funds aimed at non-professional clients
Europe & international Innovation Financial services providers Operational resilience – The AMF applies the Joint Guidelines on the oversight cooperation and information exchange under the Digital Operational Resilience Act (DORA)
Long term investment Shares Collective investments AMF 2024 Barometer: French equity investment intentions remain high
Warning Savings protection Warning Forex and binary options The AMF warns the public about the fraudulent Forex investment offering on the LIVAXXEN trading platform
Sustainable Finance Asset management The Autorité des Marchés Finances has decided to apply ESMA's Guidelines on funds' names
Sustainable Finance Periodic & ongoing disclosures Journalists Listed companies and issuers Faced with dense and complex information, the AMF is encouraging financial institutions to continue their efforts to improve the transparency of their Taxonomy reporting
Asset management Collective investments The AMF releases an updated stocktake of French funds equipped with liquidity management tools
Short selling Equity Stock market tumbles: still a rare phenomenon on the Paris market
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
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
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. #
Shares ETF Investment services In Q3 2024, for the first time, new ETF investors outnumbered new equity investors
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several entities proposing atypical investments without being authorised to do so
Long term investment Savings protection Retail investors Journalists The Autorité des Marchés Financiers (AMF) launches a major financial education campaign aimed at young investors
AMF activity Institutional The AMF publishes its 2023 CSR Report
Shares ETF Collective investments Long term investment The activity of retail investors active in equities and ETFs increased further in Q2 2024
Asset management Notification forms for the cross-border exercise of the activities of passemanagement companies, and the marketing of UCITS and AIFs: the AMF updates its doctrine
Sustainable Finance Asset management Other professionals Journalists Investment management companies The Autorité des Marchés Financiers (AMF) publishes the findings of three supervisory initiatives on sustainable finance
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Innovation Artificial intelligence AMF launches its "innovation workshops"
Supervision Asset management Journalists Investment management companies The AMF has published a summary of its SPOT inspections of financial management delegation arrangements at asset management companies
Sanctions & settlements professional obligations Other professionals Journalists AMF Enforcement Committee fines a financial investment advisor and its director for breaches of their professional obligations
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. #
Sustainable Finance Investment advice Long term investment Retail investors Journalists Mystery shopping visits to bank branches: the collection of client sustainability preferences remains fragmented
Asset management Anti-money Laundering Money laundering and terrorist financing: the AMF publishes its sectoral risk analysis
Asset management The Autorité des Marchés Financiers (AMF) withdraws the authorisation of the portfolio asset management company Wide Asset Management
Mediation Annual report Retail investors Professional investors Journalists AMF Ombudsman publishes her 2023 Annual Report
AMF activity Institutional The AMF has set up a CSR Committee
Financial products The AMF publishes a research paper on French funds’ costs
Markets Investment services Financing the economy Supervision ESMA's 20 recommendations for more efficient and attractive European markets
Appointment AMF activity Retail investors Journalists France Mayer appointed Retail Investor Relations and Protection Director at the Autorité des Marchés Financiers
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
Asset management The AMF completes its policy on gates in master-feeder structures
Fees Collective investments Shares ETF Less expensive investment funds for savers in 2023 according to the AMF's Household Savings Newsletter
Asset management ROSA Extranet: changes to authorisation and declaration processes for collective investments
Warning Savings protection Warning Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Asset management Anti-money Laundering Combatting money laundering and terrorist financing: AMF applies two sets of European Banking Authority guidelines
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
Investment advice Asset management Definition of investment advice: AMF updates its doctrine
Sustainable Finance Periodic & ongoing disclosures Journalists Listed companies and issuers AMF publishes an educational guide on companies’ climate transition plans prepared by its Climate and Sustainable Finance Commission
Periodic & ongoing disclosures Sustainable Finance Consequences from 2024 of the transposition of the CSRD for large listed companies
Supervision Investment services Journalists Investment services providers AMF encourages investment services providers to strengthen their procedures for handling client complaints
Innovation MIFID The AMF reminds investment firms of the rules for identifying retail investors when reporting transactions
AMF activity Institutional Journalists Astrid Milsan will act as Secretary General of the AMF until 15 April 2024
Warning Savings protection Financial Scams Warning The AMF warns the public about fraudulent press advertisements proposing investments in car parks with electric charging points
Sanctions & settlements Disclosure Obligations Journalists Listed companies and issuers The AMF Enforcement Committee fines seven people, four for price manipulation and three for failing to comply with reporting obligations
Asset management Entry into force of the revised European Long-Term Investment Fund Regulation (ELTIF 2) - AMF clarifies fund authorisation requirements
Sanctions & settlements professional obligations Other professionals Journalists AMF Enforcement Committee fines a financial investment advisor and its director for breach of professional obligations
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.
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
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Long term investment Collective investments Shares Retail investors Journalists Equity investment: intentions on the rise again, driven by young people
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
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. #
Supervision Asset management Journalists Investment management companies The AMF publishes summary of third thematic inspection of asset management companies' cybersecurity systems
Asset management UCIT Collective investments The AMF updates its policy on disclosures by collective investment schemes incorporating non-financial methods
Asset management Requirements for investment committees and the affiliation of fund managers of asset management companies: the AMF updates its policy
Governance Periodic & ongoing disclosures Journalists Listed companies and issuers AMF proposes enhanced investor information when evaluating boards of listed companies
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...
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
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
Supervision Asset management Compliance Journalists Investment management companies Regulatory reporting by asset management companies: the AMF calls for greater diligence
Cooperation AMF Chair Marie-Anne Barbat-Layani meets with ASIC Chair Joseph Longo
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
Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Asset management Investment advice Regime applicable to financial investment advisers: update of Position-Recommendation DOC-2006-23
Sanctions & settlements professional obligations Journalists The AMF Enforcement Committee fines the Association Nationale des Conseillers Financiers-CIF for breaches of its professional obligations
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. #
Investment services Investment service: amendment of the French definition of reception and transmission of orders
Institutional AMF activity Journalists The AMF pays tribute to Jacques Delmas-Marsalet
Collective investments Asset management The AMF updates its policy on the information to be provided by collective investment schemes incorporating non-financial approaches
Anti-money Laundering Asset management Anti-money laundering and combating the financing of terrorism: the AMF applies the guidelines of the European Banking Authority
Regulatory developments Post-trading infrastructures Market infrastructures Central counterparties’ recovery and resolution: AMF complies with ESMA guidelines
Long term investment Equity Retail investors Journalists Close to 40% of new equity investors are under 35
Professional certification Sustainable Finance The AMF updates its instructions on AMF certification and the sustainable finance module
Long term investment Sustainable Finance Collective investments Retail investors Journalists Sustainable investment: growing interest among French people, especially the youngest
Innovation Savings protection AMF activity The AMF reinforces the visibility of its blacklists through Open Data
Warning Warning Savings protection Miscellaneous assets The AMF warns the public against companies proposing atypical investments without being authorised to do so
Supervision Asset management Journalists Investment management companies The AMF examines the systems for valuation of the less liquid assets of UCITS and AIFs
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...
Sanctions & settlements Journalists Investment services providers By two decisions, the AMF Enforcement Committee fines two investment services providers for breaches of their professional obligations
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. #
Asset management Employee savings funds: the AMF amends its policy on the simplified integration of liquidity management tools
Supervision Asset management Sustainable Finance Journalists Investment management companies The AMF publishes a summary on the internal processes that aim to ensure compliance with non-financial contractual commitments by asset management companies of ESG/SRI funds
Mediation Annual report Retail investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF Ombudsman publishes her 2022 Annual Report
Asset management Sustainable Finance Organisational rules Reporting under Article 29 of the Energy-Climate Law: the AMF updates its policy on how to prepare and submit reports
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...
Supervision MIFID Financial services providers Other professionals Journalists Investment services providers Provision of market data: the AMF conducts a series of SPOT inspections and identifies shortcomings in compliance with requirements
Collective investments Shares The AMF presents its proposals to improve the readability of financial product fees in European law
The Autorité des Marchés Financiers (AMF, France's financial markets authority) has proposed a new table for presenting subscription fees on financial instruments and an accompanying glossary to enhance investor readability and comparability, developed in collaboration with the Financial Sector Consultative Committee (FSCC) as input to the European Commission's Retail Investment Strategy. This matters because it targets reconciling MiFID 2 and PRIIPs disclosure requirements, which currently hinder clear fee communication, potentially influencing future EU-level amendments to improve retail investor protection without imposing new obligations. #
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...
Long term investment Equity Retail investors Professional investors Journalists The AMF has produced the standard profile of active investors in 2022
Sustainable Finance Publication by the Climate and Sustainable Finance Commission: climate resolutions
MIFID Supervision Retail investors Journalists Mystery shopping campaign to bank branches: progress made in the questioning to client, improvements needed in the information provided
Warning Warning Savings protection Forex and binary options The AMF warns the public about fraudulent investment offers through trading robots
AMF activity Asset management Contributions payable to the AMF: a new complaints form for a more effective follow-up
Innovation Markets AI enthusiasts, the AMF challenges you
Asset management Anti-money Laundering Anti-money laundering and combating the financing of terrorism: the AMF applies the guidelines of the European Banking Authority
Asset management Anti-money Laundering Money Laundering and Terrorist Financing: update of the COLB’s National Risk Assessment
Sanctions & settlements professional obligations Investment advice Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor for breaches of its professional obligations
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. #
Asset management Extension of the preparation of a Key Information Document to all collective investments: the AMF updates its policy
Financial products Sustainable Finance Asset management Journalists Investment management companies The Sustainable Finance Disclosure Regulation: the AMF proposes a targeted review to include minimum environmental criteria
Sustainable Finance Periodic & ongoing disclosures Taxonomy Article 8 reporting: publication of Frequently Asked Questions by the European Commission
Savings protection Marketing Marketing of financial products to ageing populations: publication of an independent academic research report on customer relations and sales processes
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...
Warning Warning Savings protection The AMF warns the public about calls from fraudsters claiming to help recover funds
Warning Warning Savings protection The AMF warns the public against certain platforms proposing investments in real estate as "royalties"
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Sanctions & settlements Journalists Investment management companies The AMF Enforcement Committee fines a portfolio asset management company for breaches of its professional obligations
The AMF Enforcement Committee imposed a €150,000 fine on **Inocap Gestion**, a portfolio asset management company, for multiple operational and compliance failures between 2022 and the enforcement decision date. This case demonstrates the AMF's enforcement priorities around liquidity risk management, market abuse detection systems, and anti-money laundering (AML/CFT) procedures—critical control areas that asset managers must operationalize effectively to avoid substantial penalties.
Europe & international Savings protection Marie-Anne Barbat-Layani to chair ESMA's Investor Protection Standing Committee
Institutional AMF activity Executive & other private individuals Retail investors Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
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
Governance Sustainable Finance Executive & other private individuals Journalists Listed companies and issuers Social and environmental responsibility, the focus of the AMF's 2022 report on corporate governance and executive compensation of listed companies
Asset management The AMF is supplementing its policy on liquidity management tools
Warning Savings protection Warning The AMF warns the public about fraudulent offers to invest in the energy transition
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
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). #
Institutional AMF activity Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management companies ...
Long term investment Shares Executive & other private individuals Retail investors Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
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...
Asset management The AMF updates its policy on management fees for collective investment undertakings (CIUs)
Governance Europe & international The AMF encourages French participants to provide feedback to ESMA’s call for evidence on the implementation of the Shareholders Rights Directive (SRD 2)
The AMF publication urges French market participants to submit feedback to ESMA's call for evidence evaluating the implementation of the Shareholder Rights Directive II (SRD II), which aims to enhance long-term shareholder engagement, transparency in voting processes, and issuer-shareholder dialogue across the EU/EEA. This matters for compliance teams as it signals ongoing regulatory scrutiny of SRD II transposition and operational compliance, potentially leading to harmonized amendments that could require process updates in shareholder identification, voting transmission, and engagement disclosures. French firms' input can influence future EU rules, mitigating risks of non-compliance with evolving standards. #
Asset management The AMF updates its doctrine to facilitate the adoption of liquidity management tools
Warning Miscellaneous assets Savings protection Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
AMF activity AMF Chair: Proposal to appoint Marie-Anne Barbat-Layani
This AMF publication announces a proposal to appoint Marie-Anne Barbat-Layani as Chair of the AMF, France's financial markets authority responsible for investor protection, market supervision, and regulatory enforcement. It matters for compliance professionals because leadership changes at key regulators like the AMF can signal shifts in enforcement priorities, supervisory focus, or policy directions affecting investment firms, asset managers, and market participants across the EU. While not imposing immediate rules, it warrants monitoring for potential impacts on ongoing consultations and governance expectations. #
Equity Savings Plan Long term investment Savings protection Retail investors Journalists The AMF creates a working group on equity savings plans (PEAs)
Sustainable Finance AMF activity Journalists Call for candidates: renewal of the members of the Climate and Sustainable Finance Commission
Warning Savings protection Warning The AMF calls for vigilance against fraudulent sites usurping its name
MIFID Sustainable Finance Asset management Sustainability requirements in the distribution of financial instruments: update on upcoming legislation and its implementation dates
Asset management Savings protection Journalists The AMF is conducting a consultation on the end of life of private equity funds intended for retail investors
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.
Sanctions & settlements Compliance Journalists Investment services providers The AMF Enforcement Committee fines a depositary for breaches of its professional obligations
The AMF Enforcement Committee fined RBC Investor Services Bank France SA (RBC ISBF) €500,000 plus a warning on 20 July 2022 (published 08 January 2026) for breaches as a UCITS and AIF depositary, including 25 confirmed failures in tiered intervention procedures for investment ratio overruns and deficient monitoring of 14 questionable cash flows over 45 months. This decision underscores AMF's strict enforcement of depositary duties under French regulations implementing UCITS/AIFMD, emphasizing robust controls for ratio compliance, cash flow verification, and documentation. It matters for compliance teams as it provides precedent on what constitutes "irregular and deficient" oversight, potentially increasing scrutiny and fines for similar lapses in depositary functions. #
AMF activity Appointment Journalists Grégoire Vuarlot is appointed coordinator of the ACPR and AMF Joint Unit starting 1st July 2022
Warning Warning Savings protection Miscellaneous assets The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Europe & international Sustainable Finance Asset management The AMF reiterates its call for a European regulation of ESG data, ratings, and related services
Sanctions & settlements Other professionals Journalists The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
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. #
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
Asset management The AMF updates its policy on funds with high fees
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
Asset management War in Ukraine: the AMF alerts asset management companies
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
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. #
Appointment AMF activity Other professionals Executive & other private individuals Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management...
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
Mediation Annual report Retail investors Journalists The AMF Ombudsman publishes her 2021 Annual Report
Sanctions & settlements Journalists The AMF Enforcement Committee fines a financial investment advisor and its manager for breaches of their professional obligations
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.
Asset management The AMF updates its policy on portfolio asset management company control systems and programmes of operations
Appointment Journalists Investment management companies The AMF announces the appointment of Jessica Reyes as Director of the Asset Management Regulation Division
Anti-money Laundering Asset management The AMF and TRACFIN sign a new cooperation protocol
Warning Savings protection Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Market infrastructures Order Retail investors Market Infrastructures Journalists AMF publishes an analysis of retail investor order execution on French stocks
Asset management Consequences of the Ukrainian crisis: the AMF alerts asset management companies
Asset management A liquidator of the funds previously managed by "Nestadio Capital" has been appointed at the request of the AMF
Short selling Equity Financial Crisis Executive & other private individuals Market Infrastructures Post-trade Infrastructures Professional investors Journalists French and Dutch market authorities publish a joint analysis of the...
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
Asset management Collective investments The AMF updates its policy on the marketing communications of collective investments
Asset management The AMF informs about the liquidation of the portfolio asset management company « Nestadio Capital »
Long term investment Shares Stimulating the diversification of long-term savings: the AMF proposes an educational approach to equity investment
Sustainable Finance Journalists Investment services providers Investment management companies Listed companies and issuers The ACPR and AMF publish their report on climate-related commitments of French financial institutions
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorised to do so
Asset management Anti-money Laundering Money laundering and terrorist financing: the AMF applies EBA guidelines on risk factors
Warning Savings protection Atypical products Warning The AMF warns the public against the offerings of UGE Group
Asset management Prospectus The AMF and the Banque de France publish an update of the inventory of liquidity management tools in French funds
Sustainable Finance Savings protection Collective investments Responsible finance: the AMF draws an overview of communications practices abroad
Professional certification Sustainable Finance Certification in sustainable finance: the AMF names the first certified training organisations
Asset management Marketing communications under the Regulation on cross-border distribution of funds : the AMF complies with ESMA’s Guidelines
Europe & international Cooperation The AMF and the European Central Bank (ECB) sign a supervisory cooperation arrangement
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Asset management Transposition of the directive on the cross-border distribution of collective investment undertakings: the AMF amends its General Regulation and its policy
Warning Savings protection Financial Scams Warning The AMF urges retail investors to exercise extreme caution towards proposals to invest in rooms in care homes
Warning Savings protection Miscellaneous assets Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Warning Savings protection Asset management Investment advice Warning The AMF warns the public against Sinclair Upton Capital Management
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
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
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
Warning Savings protection Warning The AMF urges investors to exercise the greatest vigilance towards proposals to invest in containers
Warning Savings protection The AMF urges retail investors to exercise the greatest vigilance towards certain activities proposed by Laurent Chenot
Warning Savings protection The AMF warns the public against Vuelex
Warning Savings protection The AMF warns the public against ELG Capital Partners and its website www.elgcapitalpartners.fr
Warning Savings protection The AMF announces the referral of two investigation files on “boiler room marketing” to the National Financial Prosecutor’s Office
Warning Savings protection Atypical products Warning The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
Warning Savings protection The AMF urges investors to exercise extreme caution towards proposals to invest in car parks
Warning Savings protection The AMF is warning the public against several companies proposing atypical investments without being authorized to do so
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
Warning Savings protection The Autorité des Marchés Financiers is calling on retail investors to exercise utmost vigilance with regard to whisky investment offers
Warning Savings protection The Autorité des Marchés Financiers (AMF) is warning the public against the entity and the website Magaffairs
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...
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
Warning Savings protection The Autorité des marchés financiers calls on retail investors to exercise the greatest vigilance in usurpation cases
Warning Savings protection The Autorité des marchés financiers issues a public warning about the website www.sogevis.com
Warning Warning Savings protection The Autorité des marchés financiers issues a public warning about the website www.holakredit.com
Warning Savings protection AMF warns the public about an aggressive marketing technique called "boiler room"
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
Warning Savings protection The Autorité des marchés financiers (AMF) warns the public against the company and the website Vanilla Golden Trade
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
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
Warning Savings protection Warning The Autorité des marchés financiers (AMF) warns the public against the company KUVERA LLC/KUVERA France
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
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
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the website www.porto-immo.com
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the website www.parel-gestion.net
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
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the entity MAG Asset and the website www.magasset.com
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)
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
Warning Savings protection The AMF issues a public warning about the website https://capitalncl.com/
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
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
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
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the activity of AGRONOMIX and its French subsidiary AGRONOMIX FRANCE
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
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
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
Warning Savings protection Warning AMF warns the public about aggressive "boiler room" direct marketing
Warning Savings protection The Autorité des marchés financiers (AMF) is warning the public against the activities of the website https://epargne-eco.fr/
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
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...
Warning Savings protection Warning The Autorité des marchés financiers (AMF) issues a public warning against the activities of unauthorized websites offering diamond investments
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
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
Warning Savings protection The AMF issues a warning about the website https://crowd-partners.com/
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
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
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
Warning Savings protection The Autorité des marchés financiers (AMF) is publishing a list on its website of unauthorized diamond investments platforms
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
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
Warning Savings protection The Autorité des marchés financiers warns once again the public about proposals to invest in diamonds
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
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
Warning Savings protection The Autorité des marchés financiers warns the public about the product "VIAGEFI 6 LIMITED"
Warning Savings protection The Autorité des marchés financiers warns the public about proposals to invest in diamonds
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
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
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
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns the public about the 'KEYSTONE 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
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
Warning Savings protection AMF warns investors about MTL Index
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
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
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
Warning Savings protection AMF urges caution when investing in SCPI shares under the Malraux and Real Estate Loss regimes
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns about persons using its name and logo and impersonating the Ombudsman and her deputy
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
Warning Savings protection The Autorité des Marchés Financiers (AMF) issues a public warning against the activities of 14 unauthorised websites and operators
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
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
Warning Savings protection Warning The French Prudential Supervisory Authority and the Autorité des Marchés Financiers warns the public against the company EMIRATES PACIFIC GROUP
Warning Savings protection The Autorité des Marchés Financiers (AMF) warns the public against the company GET EASY
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...
Warning Savings protection Warning The Autorité des Marchés Financiers issues a public warning against the activities of the group CO&H Ltd
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.
Warning Savings protection The AMF warns investors about Algorates Limited
Warning Savings protection Warning The AMF warns investors against the activities of CAC Invest
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.
Warning Savings protection Warning The Autorité des Marchés Financiers (AMF) warns the public about the activities of individuals claiming to work for the AMF
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.
Warning Savings protection The Autorité des Marchés Financiers warns the public against pyramid scheme investment offers
Warning Savings protection The Autorité des Marchés Financiers warns the public against the company PRIVATE CAPITAL
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
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