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In-depth Markets: Intermediaries & investor protection

ESMA announces its intention to activate Article 40 of MiFID 2

Published on January 2, 2018

The European Securities and Markets Authority (ESMA) issued a statement on December 15th indicating that it is considering the possible use of its product intervention powers as of January 3rd 2018 under Article 40 of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (MiFIR), to address investor protection risks posed by some speculative products.

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Asset reuse: The AMF is vigilant of the impact of regulation on the collateral market

Published on November 28, 2016

Asset re-use contributes to the smooth functioning of financial markets, but can also lead to financial stability risks or concerns associated with the protection of client assets. In this economic and legal study, with a particular attention being focused on the lessons learnt from the 2007 financial crisis, the AMF considers that further analysis of such operations is necessary.

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The AMF reiterates the rules governing investment recommendations

Published on May 2, 2016

The AMF is regularly asked about the rules that apply to investment recommendations concerning securities listed on a French market. The Authority has noted an increase in the number of investment recommendations issued, including from outside France, online and via social networks. The AMF reiterates the applicable rules in this area.

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EU Regulation on securities financing transactions: entry into force on 12 January 2016

Published on January 7, 2016

Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse was published in the Official Journal of the European Union on 23 December 2015. It will enter into force on 12 January 2016. Application of the requirements provided in this regulation will be spread over time.

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The AMF publishes a guide for ISPs on best execution/best selection

Published on January 12, 2015

The AMF has published a guide that clarifies its expectations on best execution and best selection obligations under the Markets in Financial Instruments Directive (MiFID).

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Remuneration: the AMF integrates the ESMA guidelines on investment services providers into its policy

Published on January 14, 2014

The Autorité des Marchés Financiers (AMF) has integrated the ESMA Guidelines (ESMA/2013/606) on remuneration policies and practices into its position DOC-2013-24.

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Compensation committees: an obligation for listed companies with a balance sheet exceeding €10 billion

Published on March 9, 2012

The Decree of 20 January 2012, issued in application of Article 65 of the Law of 22 October 2010 on banking and financial regulation, sets at €10 billion the balance sheet threshold beyond which credit institutions, investment companies and venture capital companies become subject to the obligation provided by Article L. 511-41-1 A of the Monetary and Financial Code to set up a compensation committee.

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Exchanges of information between French market infrastructures and foreign regulation authorities

Published on January 3, 2011

The decree of 29 December 2010 on implementation of Article L. 632-17 of the Monetary and Financial Code concerns exchanges of information between market infrastructures or between market infrastructures and the counterpart authorities of the AMF.

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Legal information
Head of publications: The Executive Director of AMF Communication Directorate.
Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02