Authorisation & Licensing regulatory updates from France.
We track 443 Authorisation & Licensing updates from France regulators, published by AMF. The archive covers 207 news items, 201 warnings and 22 enforcement actions. Most recent update: August 2026. Coverage runs from 2013 to 2026.
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.
MMF Asset management AIFMD Money market funds: the ANC has confirmed the presumption of classification as "cash equivalents"
Why this matters
AMF clarification on accounting treatment of money market funds (MMF) as 'cash equivalents' under AIFMD II. The ANC confirmed that liquidity management tools like swing pricing do not disqualify VNAV MMFs from cash equivalent classification, though the presumption remains rebuttable.
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.
Asset management UCIT Crypto-assets The AMF has published an updated version of its guide for UCITS and AIF depositaries
Why this matters
AMF published updated guidance for UCITS and AIF depositaries addressing operational and regulatory changes, particularly tokenization, crypto-assets, and e-money token settlement.
Asset management The Autorité des Marchés Financiers (AMF) is updating its doctrine in light of the recent revision of the European Benchmarks Regulation and the new regulatory framework for deposits with the Caisse des Dépôts et Consignations
Why this matters
AMF doctrine update addressing European Benchmarks Regulation (BMR) revision effective January 2026 and new CDC deposit procedures. Primary impact on asset managers and investment services providers regarding benchmark administrator authorization requirements, prospectus disclosure obligations, and liquidation...
Financing the economy Equity Fixed income The AMF publishes a study on market-based financing in Paris for the period 2007–2025
Why this matters
AMF study on market-based financing trends in Paris (2007-2025) is informational research examining equity and bond market dynamics, listing trends, and capital raising patterns. Relevant to capital markets participants and regulators monitoring market structure and competitiveness.
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.
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.
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.
Asset management The AMF has decided to withdraw the authorisation of the asset management company Xerys Invest
Why this matters
The AMF has withdrawn authorization from Xerys Invest, an asset management company managing alternative investment funds. This is an informational announcement of a regulatory enforcement action regarding licensing status. No immediate action required by other firms, making urgency null.
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.
MAR Journalists Listed companies and issuers The AMF welcomes the first criminal rulings in an insider network case
Why this matters
This regulatory update from the AMF (French financial markets regulator) announces the first criminal convictions in an insider trading case, which is a significant development in combating market abuse.
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.
Asset management Regulatory developments The AMF clarifies its doctrine on several aspects relating to asset management companies
Why this matters
The regulatory update from the AMF clarifies several aspects related to asset management companies, including requirements around digital operational resilience under the DORA regulation, rules on time-sharing for financial managers, and changes to the process for closing AMC authorization withdrawal proceedings.
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.
Appointment Institutional Sophia Bennani appointed AMF Director of Inspections
Why this matters
This regulatory update announces the appointment of Sophia Bennani as the new Director of Inspections at the AMF (Autorité des marchés financiers), the French financial markets regulator. This is an institutional change relevant to investment management and wealth management firms that are supervised by the AMF.
MAR Executive & other private individuals Journalists Listed companies and issuers The Casino case: the Paris Tribunal Correctionnel ruling marks the end of a market abuse case in which the AMF has been heavily involved
Why this matters
This regulatory update from the AMF covers a market abuse case involving manipulation and insider trading in the shares of Casino and Rallye. It discusses the criminal sanctions imposed by the Paris Tribunal Correctionnel, as well as the AMF's involvement in the case.
Anti-money Laundering Asset management The AMF invites financial market participants to AMLA’s consultations on three draft AML/CFT implementing standards
AI Analysis
The AMF is urging financial market participants, especially in asset management and related sectors, to engage in AMLA's public consultations on three draft Regulatory Technical Standards (RTS) under the new EU AML/CFT package, covering customer due diligence (CDD), identification of business relationships/transactions, and enforcement measures. These RTS aim to provide harmonized, proportionate implementation guidance, significantly impacting CDD processes and supervisory consistency across the EU, with underlying rules applying from 10 July 2027.[Source URL: https://www.amf-france.org/en/news-publications/news/amf-invites-financial-market-participants-amlas-consultations-three-draft-amlcft-implementing#xts=607212&xtor=RSS-11&type=RSS]
Key dates
9 February 2026
- Consultations opened by AMLA on three draft RTS.[Source URL: https://www.amf-france.org/en/news-publications/news/amf-invites-financial-market-participants-amlas-consultations-three-draft-amlcft-implementing#xts=607212&xtor=RSS-11&type=RSS]
9 March 2026
- Consultation closes on RTS for pecuniary sanctions/administrative measures
24 March 2026
- Online public hearing on CDD and business relationships RTS
8 May 2026
- Consultations close on CDD RTS and business relationships/linked transactions RTS.[Source URL: https://www.amf-france.org/en/news-publications/news/amf-invites-financial-market-participants-amlas-consultations-three-draft-amlcft-implementing#xts=607212&xtor=RSS-11&type=RSS]
10 July 2026
- AMLA submits final draft RTS to European Commission for adoption
Suggested considerations
Gap analysis and preparation: Assess current CDD/business identification/enforcement processes against drafts; identify changes for remote onboarding, PEPs, sectoral measures (e.g., asset manager Article 17 scenarios), and sanctions screening; set milestones for policy/system updates by July 2027.
Engage hearings: Attend 24 March 2026 public hearing for CDD/business RTS.
Monitor post-consultation: Track AMLA/EC adoption (expected Q1 2026 for some related RTS) and national implementations (e.g., CSSF data reporting).
What changed
- CDD RTS: Builds on EBA's prior draft with AMLA refinements for legal clarity, proportionality, and risk adaptation; specifies information/sources for identity verification of natural persons/legal...
Business Relationships/Occasional/Linked Transactions RTS: Defines criteria under AMLR Article 19(9) to harmonize identification, ensuring consistent EU-wide application beyond basic...
Enforcement RTS (Pecuniary Sanctions/Administrative Measures): Under AMLD6 Article 53(10), standardizes supervisor assessment/categorization of breaches for proportionate, effective, dissuasive...
Compliance impact
Urgency: High - These RTS operationalize core AMLR/AMLD6 mandates with July 2027 applicability, demanding immediate consultation input to influence final rules and 18-month lead time for system/process overhauls (e.g., CDD verification sources, harmonized transaction linking). Failure to engage risks non-compliant frameworks amid AMLA's push for EU-wide consistency, elevated direct supervision risks, and stricter enforcement; asset managers face acute challenges from intermediary distribution rules.[Source URL:...
Asset management The AMF announces that the withdrawal of the authorisation of the portfolio management company APICAP is effective
Why this matters
This regulatory update from the AMF announces the withdrawal of the authorization of the portfolio management company APICAP, which is an asset management firm. This is a medium urgency update as it involves the revocation of a firm's license to operate.
MiCA Investment services The AMF reminds Digital Asset Service Providers that the transitional period allowing them to continue providing crypto-asset services in France without MiCA authorisation ends on 1 July 2026
Why this matters
This regulatory update from the AMF is relevant for digital asset service providers (DASPs) in France, as it reminds them that the transitional period allowing them to continue providing crypto-asset services without MiCA authorisation ends on 1 July 2026.
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.
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...
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.
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
AI Analysis
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.
Key dates
17 December 2025
- AMF Enforcement Committee decision date: €3.5M fine and warning imposed on CACEIS Bank
Suggested considerations
Conduct gap analysis: Review depositary control frameworks against AMF expectations for verifying AMC investment monitoring, unlisted asset valuations, and prospectus compliance (e.g., 10% issuer limits, ratings).
Enhance oversight processes: Implement robust, documented checks on AMC systems, including independent testing of ratios, legality of investments, and derivatives.
Training and audits: Train staff on UCITS depositary duties; perform internal audits of ongoing fund oversight, prioritizing illiquid/unlisted exposures.
Monitor appeals: Track any CACEIS appeal, as outcomes could set precedents; update policies if upheld.
Reporting: Ensure timely escalation of suspected AMC breaches to AMF if identified.
What changed
This is an enforcement action, not a regulatory change; it reinforces existing obligations under French UCITS rules (transposing UCITS Directive V) for depositaries. Key upheld objections include:
Failure to perform sufficient checks on the asset management company's (AMC) systems for monitoring UCITS investment ratios and valuing unlisted securities.
Inadequate verification of investment decision legality, such as compliance with prospectus limits on debt security ratings, derivative types, and the 10% single-issuer bond exposure cap.
No new...
Compliance impact
Urgency: High - This recent (Dec 2025) decision directly impacts depositaries with €3.5M precedent for oversight failures, amid AMF's pattern of multi-million fines (e.g., €5.67M total in related 2024 case involving CACEIS). It elevates risks for UCITS/AIF depositaries handling non-standard assets, demanding immediate control reviews to avoid personal sanctions, warnings, or business restrictions, especially post-H2O scandal.
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.
Financial disclosures & corporate financing Journalists Listed companies and issuers The Autorité des Marchés Financiers takes note of the Cour de Cassation ruling in the Vivendi SE case
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) relates to a court ruling involving Vivendi SE, a listed company. It touches on financial disclosures, corporate financing, and market abuse issues that are relevant for banks, broker-dealers, and asset managers operating in the capital markets and...
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...
Asset management Collective investments The Autorité des Marchés Financiers has amended its doctrine to clarify its expectations of ELTIFs
Why this matters
This regulatory update from the Autorité des Marchés Financiers (AMF) clarifies its expectations for European Long-Term Investment Funds (ELTIFs), which are a type of collective investment scheme. This is relevant for asset managers who offer or manage ELTIF products.
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.
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.
Financial disclosures & corporate financing Public offer Prospectus Executive & other private individuals Professional investors Journalists Listed companies and issuers The AMF announces new measures to facilitate access to listing
Why this matters
This regulatory update from the AMF announces new measures to facilitate access to listing, which impacts banking, capital markets, and listed companies. The key topics covered are authorization and licensing, reporting and disclosure, and market abuse/surveillance, which are relevant for banks, broker-dealers, and...
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.
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
Why this matters
This regulatory update from the AMF focuses on thematic inspections related to governance and the role of senior managers at asset management companies, which are relevant for investment management and wealth management firms.
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.
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.
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...
Why this matters
This regulatory update from the AMF discusses the European supervision of capital markets, calling for an enhanced role for ESMA to promote a Savings and Investments Union. This impacts investment management firms, wealth managers, banks, and fintechs operating in the European capital markets.
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.
Asset management The Autorité des Marchés Financiers (AMF) revoked the authorisation of alternative investment fund manager (AIFM) APICAP
Why this matters
This regulatory update from the AMF revokes the authorization of an alternative investment fund manager (AIFM), which is a significant regulatory action that impacts the asset management sector.
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.
Appointment Institutional Isabelle Guezet and Julien Laroche appointed Deputy Directors of the Corporate Finance Division
Why this matters
This is an announcement of new appointments to the Corporate Finance Division of the AMF, the French financial markets regulator. This is informational in nature and does not require immediate action from regulated firms.
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.
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.
Supervision Governance Sustainable Finance Journalists Investment management companies The AMF publishes a summary of its SPOT inspections on asset management companies' voting and engagement policies
Why this matters
This regulatory update from the AMF (French financial markets regulator) focuses on inspections of asset management companies' voting and engagement policies, which are relevant to ESG and sustainability considerations.
MiCA Crypto-assets Innovation Implementation of MiCA: The AMF applies ESMA and EBA Guidelines on the assessment of the suitability of members of the management body
Why this matters
This regulatory update from the AMF relates to the implementation of the Markets in Crypto-Assets (MiCA) regulation, which will impact crypto-asset firms and fintechs. It specifically covers the assessment of the suitability of members of the management body, which is a key governance requirement under MiCA.
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.
Annual report Institutional Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This is an annual report from the AMF, the French financial markets regulator, covering a range of topics relevant to investment management, capital markets, and crypto/digital assets firms. The report likely contains information on regulatory developments, authorizations, and technology/cyber issues in these areas.
Financial disclosures & corporate financing Journalists Listed companies and issuers The AMF orders DANAE GROUP to file a draft takeover bid for ENTREPRENDRE shares
AI Analysis
The AMF has ordered Danae Group to file a draft takeover bid for shares in Entreprendre, enforcing mandatory public offer rules triggered by a shareholding threshold crossing. This matters for compliance professionals as it exemplifies AMF's strict oversight of takeover regulations, ensuring market integrity, equal treatment of shareholders, and timely disclosures in listed company transactions. It underscores the risks of non-compliance, potentially leading to enforcement actions.
Key dates
Within 4 Deadline
6 weeks of triggering event; - Danae Group must file draft takeover bid (practice standard; exact trigger date not specified in publication)
10 trading days from offer period start Deadline
- AMF reviews draft for compliance and issues visa (extendable if appraiser or works council involved, min. 5 trading days post-target reply)
Pre
offer period (post-announcement); - Strict trading rules apply; offeror may acquire shares until opening, with restrictions
Offer period
- From AMF filing notice to results publication; minimum success threshold 50% (waivable by AMF)
Suggested considerations
File draft takeover bid immediately: Submit to AMF with price details (highest 12-month price, cash only), intent on squeeze-out, and supporting documents.
Appoint independent appraiser: Mandatory if squeeze-out planned; fairness statement required.
Inform AMF and publish: Disclose filing; adhere to trading restrictions during pre-offer/offer periods.
Prepare target response: Entreprendre to file draft reply document, potentially involving works council.
Monitor thresholds: Ongoing vigilance for 30% voting rights or 1% 12-month crossings by any party.
What changed
No new regulatory changes are introduced; this is an enforcement decision applying existing AMF rules on mandatory takeover bids under the General Regulation (RGAMF), particularly Articles 234-2 et seq. Key requirements include: filing a draft offer with the AMF for compliance review within 10 trading days; mandatory cash offers at the highest price paid by the offeror (alone or in concert) in the prior 12 months; adherence to principles of free play of bids, equal treatment, transparency, market integrity, fairness, and competition.
Compliance impact
Urgency: High - Immediate filing obligation for Danae Group risks escalation to sanctions if ignored; for others, it signals AMF's proactive enforcement, heightening scrutiny on share acquisitions in listed firms. Matters due to potential market disruption, shareholder protection mandates, and precedent for rapid intervention (e.g., visa timelines enforce orderly processes).
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
Why this matters
This regulatory update is relevant to listed companies, particularly those in the banking, investment management, and wealth management sectors. It addresses gender balance on boards, which is an important ESG and governance consideration.
Asset management MMF The AMF applies ESMA's guidelines on updating stress scenario parameters, in accordance with Article 28 of the Money Market Funds Regulation
Why this matters
This regulatory update from the AMF applies ESMA's guidelines on updating stress scenario parameters for money market funds, which is relevant for investment managers, banks, and broker-dealers that operate or invest in money market funds.
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.
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
Why this matters
This regulatory update from the AMF applies joint guidelines issued by European Supervisory Authorities to facilitate information exchange between national competent authorities.
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.
Anti-money Laundering Asset management Crypto-assets Anti-money laundering and countering the financing of terrorism: the AMF applies the guidelines of the European Banking Authority on restrictive measures for crypto-asset service providers
Why this matters
This regulatory update from the AMF applies guidelines from the European Banking Authority on restrictive measures for crypto-asset service providers, which is relevant for firms operating in the crypto and digital assets sector as well as traditional financial institutions like banks and asset managers that may offer...
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.
Market infrastructures Innovation Europe & international Cooperation Other professionals Market Infrastructures Journalists Investment management companies The French and Italian authorities make proposals for a more competitive...
AI Analysis
The French (AMF) and Italian (Consob) financial authorities have jointly proposed amendments to the EU's DLT Pilot Regime to increase its competitiveness and attract market participants. The Pilot Regime, which became operational in March 2023, has underperformed with only three authorized infrastructures and minimal live trading activity, prompting regulators to recommend structural changes including greater proportionality, expanded eligible instruments, and raised activity thresholds.
Key dates
March 2023
- Pilot Regime became operational
April 9, 2025
- AMF and Consob formal proposals submitted
March 24, 2026 Deadline
- ESMA report deadline to European Commission on Pilot Regime functioning and recommendations
Q2 2026
- Expected European Commission report to Parliament and Council with recommendations on Pilot Regime extension, amendment, or permanent conversion
June 30, 2026
- End of MiCA transitional period; full crypto-asset regime implementation
Suggested considerations
*For Market Infrastructure Operators:
*Reassess Business Cases: Evaluate viability under revised €100 billion thresholds and expanded instrument eligibility
*Prepare Applications: Organizations previously excluded by €6 billion threshold should prepare authorization applications under new proportionality framework
*Monitor Commission Decisions: Track European Commission's response to ESMA report (expected Q2 2026) for final regulatory direction
*Compliance Documentation: Prepare operational and technical documentation demonstrating alignment with revised requirements
What changed
The proposed amendments address the Pilot Regime's limited uptake by introducing the following regulatory modifications:
Scope Expansion
Expand eligible financial instruments from current restrictions to all financial assets
Remove categorical limitations that previously restricted participation
Activity Thresholds
Raise activity thresholds from €6 billion to €100 billion
Introduce greater proportionality based on project scale, allowing smaller players simplified requirements
Operational Flexibility
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.
Asset management Publication of the 2023 asset management key figures report
Why this matters
This regulatory update relates to the publication of the 2023 asset management key figures report, which is relevant for investment management and wealth management firms. The key topics covered are reporting and disclosure requirements, as well as authorization and licensing for these types of firms.
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.
Asset management Collective investments End of life of private equity funds: the AMF amends its General Regulation and policy
Why this matters
This regulatory update from the AMF relates to changes in the rules around the end of life of private equity funds, which is relevant for asset managers operating in the investment management and capital markets sectors.
Strategy Supervision Institutional Executive & other private individuals Journalists Investment services providers Investment management companies Listed companies and issuers The AMF publishes its action and supervisory...
Why this matters
This regulatory update from the AMF covers priorities related to investment management firms, capital markets participants, and listed companies. Key areas of focus include reporting and disclosure requirements, authorization and licensing, and governance/senior management oversight.
Innovation Institutional Crypto-assets MiCA The AMF is recognized by INATBA for Its Innovative Approach to Digital Asset Regulation
Why this matters
This news article discusses the AMF's innovative approach to regulating digital assets, which is relevant for crypto exchanges and fintech firms operating in the crypto/digital asset space. The content is informational in nature, so the urgency is low.
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...
Derivatives or structured products EMIR Refit: Update of the AMF website on notifications forms
Why this matters
This regulatory update from the AMF relates to changes in the notification forms for derivatives and structured products under the EMIR Refit regulation. This impacts firms in the banking, investment management, and capital markets sectors that deal with derivatives and structured products.
Asset management Anti-money Laundering Crypto-assets Combating money laundering and terrorist financing: the AMF applies the guidelines issued by the European Banking Authority regarding certain transfers of crypto-assets
Why this matters
This regulatory update from the AMF applies guidelines from the EBA regarding certain transfers of crypto-assets, which is relevant for asset managers, banks, and crypto exchanges in terms of AML/CFT compliance and licensing requirements.
Asset management The AMF amends its Programme of Operations Guide for Asset Management Companies
Why this matters
This regulatory update from the AMF amends the Programme of Operations Guide for Asset Management Companies, which is relevant for the investment management sector. The changes impact the authorization and licensing requirements as well as operational resilience considerations for asset managers.
Sustainable Finance Asset management The Autorité des Marchés Finances has decided to apply ESMA's Guidelines on funds' names
Why this matters
This regulatory update from the Autorité des Marchés Finances (AMF) relates to the application of ESMA's Guidelines on funds' names, which is relevant for investment management and wealth management firms that offer sustainable investment products.
Financial disclosures & corporate financing Periodic & ongoing disclosures Regulatory developments The Listing Act is entering into force on December 4, 2024
Why this matters
This regulatory update on the Listing Act entering into force impacts financial firms across banking, capital markets, and asset management sectors. It relates to reporting, disclosure, and licensing requirements, making it a medium urgency development for a wide range of financial institutions.
Cooperation Markets Executive & other private individuals Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF and the AMMC are strengthening their...
Why this matters
This regulatory update indicates strengthened cooperation between the AMF and AMMC, which is likely to impact authorization, reporting, and prudential requirements for firms operating in the banking, investment management, and capital markets sectors.
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.
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.
Asset management Regulatory developments AMF amends its Programme of Operations Guide for Asset Management Companies
Why this matters
This regulatory update from the AMF amends the Programme of Operations Guide for Asset Management Companies, which impacts the authorization and operational requirements for asset managers in France.
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...
MiCA Crypto-assets MiCA Regulation: AMF now accepting applications for authorisation as a CASP
Why this matters
This regulatory update is relevant for crypto firms, specifically crypto exchanges, as it announces that the AMF is now accepting applications for authorization as a CASP (Crypto-Asset Service Provider) under the MiCA regulation. This is an important licensing requirement for crypto firms operating in the EU.
AMF activity Institutional The AMF publishes its 2023 CSR Report
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) relates to the publication of its 2023 Corporate Social Responsibility (CSR) Report. This is an informational update that covers ESG and sustainability reporting, as well as authorisation and licensing requirements, which are relevant for asset...
Asset management The Autorité des Marchés Financiers (AMF) announces withdrawal of the authorisation of the portfolio asset management company Wide Asset Management as of 8 July 2024
Why this matters
This regulatory update from the AMF announces the withdrawal of authorization for the portfolio asset management company Wide Asset Management, which is relevant for asset managers operating in the investment management sector.
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.
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
Why this matters
This regulatory update from the AMF relates to notification forms for the cross-border exercise of activities by asset management companies, as well as the marketing of UCITS and AIFs. It impacts investment management and wealth management firms that operate across borders.
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
Why this matters
This regulatory update from the AMF focuses on supervisory initiatives related to sustainable finance, which is relevant for investment management firms, wealth managers, and the broader financial industry.
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.
Artificial intelligence Innovation Financial products Financial services providers Artificial intelligence: the AMF encourages market stakeholders to take part in two European Commission initiatives on issues specific to the financial sector
Why this matters
This regulatory update from the AMF encourages market stakeholders in the financial sector to participate in two European Commission initiatives related to artificial intelligence.
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
Why this matters
This regulatory update from the AMF focuses on inspections of financial management delegation arrangements at asset management companies, which is relevant for the investment management and wealth management sectors.
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.
Sustainable Finance Governance Financing the economy Other professionals Journalists Investment management companies Listed companies and issuers The AMF and the ACPR have published their report on the monitoring and assessment of the climate...
Why this matters
This regulatory update from the AMF and ACPR focuses on monitoring and assessing the climate commitments made by Paris financial centre participants. It is relevant for banking, investment management, and capital markets firms, as well as listed companies, in relation to ESG/sustainability reporting and disclosure...
Institutional Europe & international Cooperation AMF Chair Marie-Anne Barbat-Layani meets with CSRC Vice Chairman, Fang Xinghai
Why this matters
This regulatory update discusses a meeting between the AMF Chair and the CSRC Vice Chairman, which is likely to involve discussions around cross-border cooperation, regulatory alignment, and information sharing between European and Chinese financial authorities.
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.
Asset management The Autorité des Marchés Financiers (AMF) withdraws the authorisation of the portfolio asset management company Wide Asset Management
Why this matters
This regulatory update from the AMF announces the withdrawal of authorization for the portfolio asset management company Wide Asset Management, which is relevant for investment management and wealth management firms.
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.
Asset management MMF AMF complies with ESMA guidelines on updating the stress scenario parameters provided for in Article 28 of the Money Market Funds Regulation for 2024
Why this matters
This regulatory update from the AMF relates to compliance with ESMA guidelines on stress scenario parameters for money market funds, which is relevant for investment managers, banks, and broker-dealers that operate or invest in money market funds.
AMF activity Institutional The AMF has set up a CSR Committee
Why this matters
The AMF has set up a CSR (Corporate Social Responsibility) Committee, which is relevant for firms in the banking, investment management, and wealth management sectors. This touches on ESG/sustainability topics, as well as broader governance and authorization/licensing requirements.
Appointment AMF activity Journalists Marie Seiller appointed Resources, Operations and Transformation Director at the Autorité des Marchés Financiers
Why this matters
This is an announcement of a new appointment at the French financial markets regulator, the Autorité des Marchés Financiers (AMF). The appointment is for the Resources, Operations and Transformation Director role, which is relevant for the oversight and operations of regulated financial firms across the banking,...
Annual report Institutional AMF activity Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment...
Why this matters
This annual report from the AMF covers a broad range of regulatory topics relevant to investment managers, capital markets participants, and fintech firms, including reporting, licensing, and technology/cyber issues.
Markets Investment services Financing the economy Supervision ESMA's 20 recommendations for more efficient and attractive European markets
Why this matters
This regulatory update from ESMA provides recommendations to improve the efficiency and attractiveness of European markets, covering areas such as market surveillance, reporting requirements, and authorization processes. It is relevant for capital markets participants, investment managers, and wealth managers.
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.
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.
Financial disclosures & corporate financing Equity Journalists Listed companies and issuers Amendment to the AMF General Regulation makes "retail" tranche optional for initial public offerings
Why this matters
This regulatory update from the AMF (French financial markets authority) is relevant for broker-dealers and listed companies involved in initial public offerings. It changes the requirements around the 'retail' tranche, which impacts reporting and disclosure as well as the authorization process for IPOs.
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.
This regulatory update concerns the withdrawal of approval for a token offering, which is a significant event for crypto firms and requires prompt attention.
Professional certification AMF activity Journalists The Autorité des Marchés Financiers announces the new composition of the Financial Skills Certification Board
Why this matters
This regulatory update announces changes to the composition of the Financial Skills Certification Board, which is relevant for firms in the banking, investment management, and capital markets sectors.
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.
Asset management ROSA Extranet: changes to authorisation and declaration processes for collective investments
Why this matters
This regulatory update from the AMF relates to changes in the authorization and declaration processes for collective investment schemes, which is relevant for asset managers and wealth managers.
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.
Appointment Sanctions & settlements Journalists Valérie Michel-Amsellem becomes Chair of the AMF Enforcement Committee
AI Analysis
This AMF publication announces the appointment of Valérie Michel-Amsellem as the new Chair of the AMF Enforcement Committee, the independent body responsible for imposing sanctions in financial market violations. It matters for compliance professionals because leadership changes in enforcement can signal shifts in sanctioning priorities, rigor, or focus areas, potentially influencing how firms approach risk management and remediation. While no immediate policy changes are introduced, monitoring the new Chair's tenure is essential given the Committee's role in upholding market integrity.
Key dates
Immediate
- Appointment takes effect upon announcement, with no disclosed transition period
Suggested considerations
Review backgrounds of key AMF personnel, including Valérie Michel-Amsellem, for insights into enforcement trends (e.g., via AMF governance pages: https://www.amf-france.org/en/amf/our-organisation/our-governance).
Enhance internal monitoring of AMF sanction releases (https://www.amf-france.org/en/news-publications/news-releases/enforcement-committee-news-releases) to track patterns under new leadership.
Conduct gap analyses on compliance programs for high-risk areas like market abuse, given the Committee's sanction powers up to €100 million or 10x profits.
What changed
There are no substantive regulatory changes, new requirements, or amendments to the AMF General Regulation outlined in this announcement. The publication solely details an internal governance appointment within the AMF's structure, where the Enforcement Committee maintains its established autonomy for sanction decisions, separate from the AMF Board. This aligns with prior affirmations of the Committee's independence, as upheld in ECHR rulings on its impartiality.
Compliance impact
Urgency: Low - This personnel change does not impose new obligations or alter existing rules, posing minimal immediate risk. It matters indirectly for long-term strategy, as the Chair could steer enforcement toward stricter penalties or novel interpretations of obligations (e.g., as analyzed in historical sanction studies: https://faculty-research.ipag.edu/wp-content/uploads/recherche/WP/IPAG_WP_2014_072.pdf).
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.
Appointment Sanctions & settlements Journalists Appointements to the AMF Enforcement Committee
AI Analysis
This AMF publication announces the partial renewal of the Enforcement Committee, including four new appointments, two reappointments, and the subsequent election of Valérie Michel-Amsellem as Chair on 28 February 2024. It matters for compliance professionals as changes in committee composition can influence enforcement priorities, sanction severity, and interpretations of financial regulations under AMF jurisdiction.
Key dates
13 February 2024
- Ministerial order appointing new and reappointed members
20 February 2024
- Publication of the ministerial order
27 February 2024
- Composition published in the Official Journal
28 February 2024
- First meeting; election of Valérie Michel-Amsellem as Chair and Jean-Claude Hassan as second section Chair
Suggested considerations
Amsellem's prior roles in economic regulation and Court of Cassation) to anticipate enforcement trends; update internal AMF monitoring dashboards with new committee details; assess ongoing investigations or settlements for potential impact from refreshed perspectives.
What changed
There are no new regulatory requirements or substantive changes to laws; this is an administrative renewal of the Enforcement Committee's membership. Key developments include: new members Jean-Claude Hassan (Vice-President of the Council of State appointee, also chairs second section), Xavier Samuel (Court of Cassation appointee), Sophie Langlois and Aurélien Soustre (Ministerial appointees); reappointments of Anne Le Lorier and Ute Meyenberg.
Compliance impact
Urgency: low - This personnel change poses minimal immediate risk but signals potential evolution in enforcement tone under new leadership experienced in sanctions and regulation (e.g., Michel-Amsellem's appellate background). It matters longer-term for firms in protracted AMF proceedings, as committee decisions on sanctions and settlements directly affect penalties and reputational harm.
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.
Derivatives or structured products EMIR Refit: Update of the AMF website on notifications forms
Why this matters
This regulatory update from the AMF relates to EMIR Refit and the notification forms for derivatives and structured products, which is relevant for banking, investment management, and capital markets firms that deal in these instruments.
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.
AMF activity Institutional Journalists Astrid Milsan will act as Secretary General of the AMF until 15 April 2024
Why this matters
This is an announcement about a change in leadership at the AMF, the French financial markets regulator. It is relevant for banks, asset managers, and wealth managers operating in France as they will interact with the AMF and its new Secretary General.
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.
Asset management Entry into force of the revised European Long-Term Investment Fund Regulation (ELTIF 2) - AMF clarifies fund authorisation requirements
Why this matters
This regulatory update from the AMF provides information on the entry into force of the revised European Long-Term Investment Fund Regulation (ELTIF 2), which impacts asset managers and wealth managers authorizing and operating ELTIF funds. The update also covers ESG/sustainability requirements related to ELTIF funds.
Strategy Supervision Institutional Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services...
Why this matters
This regulatory update from the AMF covers a range of topics relevant to investment management firms, capital markets participants, and fintechs, including technology and cyber, licensing, and reporting requirements.
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 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.
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 Collective investments The AMF updates its policy on disclosures by collective investment schemes incorporating non-financial methods
Why this matters
This regulatory update from the AMF focuses on disclosure requirements for collective investment schemes that incorporate non-financial methods, which is relevant for asset managers and wealth managers.
Asset management Changes to CIU authorisation and declaration processes
Why this matters
This regulatory update from the AMF relates to changes in the authorization and declaration processes for Collective Investment Undertakings (CIUs), which are relevant for asset managers.
Asset management Requirements for investment committees and the affiliation of fund managers of asset management companies: the AMF updates its policy
Why this matters
This regulatory update from the AMF (French financial markets authority) focuses on requirements for investment committees and the affiliation of fund managers at asset management companies. It is relevant for asset managers and impacts their governance and licensing/authorization.
Governance Periodic & ongoing disclosures Journalists Listed companies and issuers AMF proposes enhanced investor information when evaluating boards of listed companies
Why this matters
This regulatory update from the AMF proposes enhanced investor information requirements for evaluating the boards of listed companies. This impacts capital markets, wealth management, and investment management firms that are subject to these disclosure rules.
Markets Institutional Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF presents...
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) announces the presentation of the 2023 Young Researcher Award to Sylvain Carré. This is an informational update relevant to investment management firms, capital markets participants, and listed companies as it recognizes research contributions in...
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 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.
Cooperation Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers The AMF and the US...
Why this matters
This regulatory update involves a memorandum of understanding (MOU) between the AMF and the US CFTC for the supervision of certain cross-border firms, which is relevant for capital markets, investment management, and firms operating in both jurisdictions.
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.
Asset management Loans originated by AIFs: the AMF amends its guidelines on reporting requirements
Why this matters
This regulatory update from the AMF (French financial regulator) amends reporting requirements for alternative investment funds (AIFs) that originate loans. This impacts asset managers and banks involved in loan origination activities, requiring changes to their reporting and compliance processes.
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.
Appointment Institutional AMF activity Other professionals Executive & other private individuals Retail investors Fintech Professional investors Journalists Investment services providers Investment management...
Why this matters
This regulatory update announces the appointment of a new Secretary General at the AMF, the French financial markets regulator. This is an institutional change that impacts various financial firms under AMF's supervision, including asset managers, banks, brokers, and wealth managers.
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 Journalists 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 unauthorized investment services, deficient investment processes, conflicts of interest failures, and inadequate AML/CFT systems. This decision underscores AMF's focus on operational robustness in asset managers, particularly those acting as tied agents, and holds senior managers personally accountable. It matters for compliance as it exemplifies enforcement trends targeting systemic deficiencies, with potential appeals signaling ongoing scrutiny.
Key dates
August 2019
December 2023; - Period of breaches investigated, covering investment services, processes, conflicts, and AML/CFT failures
31 December 2025
- AMF Enforcement Committee decision date imposing fines on M Capital Partners and directors
08 January 2026
- Public press release date
Suggested considerations
Immediate gap analysis: Review investment procedures for precision, traceability, and operationality; verify authorization of lending entities and service scopes (e.g., no unauthorized placement services).
Enhance AML/CFT: Implement operational risk mapping, systematic due diligence on fund assets/liabilities, and evidence of effectiveness.
Conflicts framework: Formalize identification/prevention processes, especially in multi-role firms (asset manager + tied agent).
Senior manager attestation: Document personal oversight; conduct training on attribution of breaches.
Marketing/retrocessions: Ensure traceability and proof of client benefit (cross-reference with similar findings).
What changed
This is an enforcement action, not a regulatory change, 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 compliant; failure to verify or document renders systems non-operational.
Scope of services: Asset managers (and tied agents) cannot provide unauthorized services like placing financial instruments without firm commitment, circumventing licensed activities.
Conflicts of interest: Robust identification, prevention, and management systems are mandatory.
AML/CFT: Due diligence on fund assets/liabilities must be systematic and operational, with effective risk mapping and procedures.
Compliance impact
Urgency: High - This reflects a pattern of 2025 AMF fines on asset managers for operational/AML failures (e.g., €1.3M on Altaroc Partners 15 Sep 2025; €400k on Eternam 9 Sep 2025), signaling intensified scrutiny post-AIFMD reviews. Matters due to personal liability for managers, appeal risks amplifying precedent, and applicability to hybrid models; non-compliance risks fines scaling to €1M+ and reputational damage.
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.
MiCA Crypto-assets Regulatory developments Digital assets: the AMF amends its General Regulation and its policy on DASP in light of enhanced registration and the MiCA Regulation
Why this matters
This regulatory update from the AMF amends its General Regulation and policy on digital asset service providers (DASPs) in light of the upcoming MiCA Regulation. It is relevant for crypto exchanges and fintech firms operating in the digital asset space, as it covers changes to authorization and licensing requirements...
Asset management The Autorité des Marchés Financiers (AMF) announces withdrawal of the authorisation of the portfolio asset management company Quantology Capital Management as of 30 June 2023
Why this matters
This regulatory update from the AMF announces the withdrawal of authorization for the portfolio asset management company Quantology Capital Management, which is relevant for investment management firms and their licensing/authorization status.
Collective investments Asset management The AMF updates its policy on the information to be provided by collective investment schemes incorporating non-financial approaches
Why this matters
This regulatory update from the AMF focuses on the information requirements for collective investment schemes that incorporate non-financial approaches, such as ESG factors.
Crypto-assets Innovation Market infrastructures Post-trading infrastructures Market infrastuctures on blockchain technology: adaptation of the French securities laws
Why this matters
This regulatory update from the AMF (French financial regulator) relates to the adaptation of French securities laws to accommodate blockchain-based market infrastructures. This is relevant for banks, fintechs, and crypto exchanges operating in the French capital markets and crypto asset space.
Crypto-assets Digital assets: the AMF amends its policy on DASPs to clarify the transition to "enhanced" DASP registration
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) in France amends its policy on Digital Asset Service Providers (DASPs) to clarify the transition to an 'enhanced' DASP registration regime.
Professional certification Sustainable Finance The AMF updates its instructions on AMF certification and the sustainable finance module
Why this matters
This regulatory update from the AMF relates to changes in certification requirements and a new sustainable finance module, which is relevant for investment managers, wealth managers, and the broader financial industry.
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.
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...
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 [email protected].
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.
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
Why this matters
This regulatory update from the AMF (French financial markets authority) focuses on the internal processes that asset management companies must have in place to ensure compliance with the non-financial commitments of their 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
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 Journalists Investment management companies The AMF Enforcement Committee fines a portfolio asset management company for breaches of its professional obligations
AI Analysis
The AMF Enforcement Committee fined portfolio 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 multiple breaches spanning August 2019 to December 2023, including unauthorized placement of financial instruments as a tied agent, non-operational investment allocation processes, inadequate compliance with investment procedures, deficient conflicts of interest management, and non-operational AML/CFT systems. This decision underscores AMF's strict enforcement of operational compliance and scope limitations for asset managers, serving as a critical reminder for firms to ensure robust, traceable systems and director accountability. It matters because it highlights personal liability for managers and recurring AMF focus on AML/CFT and procedural deficiencies, 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, Rudy Secco, and Stéphanie Minissier
Suggested considerations
Audit dual roles: Review tied agent activities to ensure no unauthorized placement services; cease any circumvention of AMC service restrictions.
Enhance investment processes: Implement precise, operational rules for fund investment allocation, with full traceability of due diligence and verifications.
Strengthen controls: Update conflicts of interest frameworks, AML/CFT systems (including due diligence, training, and risk assessments), and compliance monitoring to ensure operational effectiveness.
Director oversight: Responsible managers must demonstrate active supervision; conduct gap analyses attributing breaches to governance failures.
Documentation: Maintain auditable records for all procedures; test systems for operationality via internal audits.
What changed
This is an enforcement action, not a regulatory change introducing new rules. It reinforces existing obligations under French financial regulations (e.g., Monetary and Financial Code) for asset...
Strict limits on services: AMCs cannot provide placement of financial instruments without a firm commitment basis, even as tied agents; doing so circumvents authorized investment services.
Operational investment systems: Processes for allocating investments between funds must be precise, with full traceability of verifications.
Conflicts of interest: Firms must identify, prevent, and manage conflicts effectively.
AML/CFT: Systems must be fully operational, with adequate due diligence (e.g., client identification, PEP screening).
Compliance impact
Urgency: High - This recent (Dec 2025) decision aligns with a pattern of AMF fines on AMCs for AML/CFT, procedural, and operational failures (e.g., €200k on Eres Gestion in 2023 for rebates/investments; warnings/fines on Inter Gestion REIM in 2024 for AML). It matters due to director liability, escalating fines (up to €200k+), and AMF's educational role in clarifying regulations, risking similar actions for non-compliant firms in 2026 amid AIFMD 2.0 focus.
Sanctions & settlements Asset management Compliance Anti-money Laundering Executive & other private individuals Investment management companies The AMF Enforcement Committee fines a portfolio asset management company and its manager for breaches of their...
AI Analysis
The AMF Enforcement Committee fined portfolio asset management company M Capital Partners €200,000 and its managers Rudy Secco (€70,000) and Stéphanie Minissier (€35,000) on 31 December 2025 for multiple breaches of professional obligations from August 2019 to December 2023, including unauthorized investment services as a tied agent, non-operational investment allocation processes, deficient conflict-of-interest management, and inadequate AML/CFT systems. This decision underscores AMF's strict enforcement against operational failures in asset management, particularly for firms balancing portfolio management with tied agent roles, emphasizing personal accountability for managers. Compliance teams must review this for gaps in procedures, as it highlights how imprecise processes and poor traceability lead to substantial sanctions.
Key dates
August 2019
December 2023; - Period of breaches investigated, covering unauthorized services, investment process failures, conflicts, and AML/CFT deficiencies
31 December 2025
- AMF Enforcement Committee decision date; fines imposed on M Capital Partners, Rudy Secco, and Stéphanie Minissier
Suggested considerations
Audit investment services scope to ensure no unauthorized placement activities, especially if acting as tied agents; cease and remediate any circumventions.
Enhance investment allocation processes with precise rules, full traceability of verifications, and demonstrable operationality.
Strengthen conflict-of-interest frameworks with identification, prevention, and management protocols, including documentation.
Overhaul AML/CFT systems for effective due diligence on clients, assets, and risks; conduct staff training and test operationality.
Review manager accountability: responsible managers should self-assess oversight of compliance functions.
What changed
This is an enforcement decision, not a new regulation, but it reinforces existing AMF requirements under French Monetary and Financial Code (e.g., Article L. 214-24-1) for asset managers:
Asset management companies (sociétés de gestion) are restricted to specific investment services; providing placement of financial instruments without firm commitment (as a tied agent) circumvents...
Investment systems must be operational with precise allocation rules between funds; lack of traceability in verifications violates due diligence obligations.
Firms must maintain effective conflict-of-interest identification, prevention, and management processes.
AML/CFT systems require operational due diligence, including adequate client and asset verification; deficiencies here trigger sanctions.
These align with prior AMF positions but clarify enforcement...
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.
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
Why this matters
The regulatory update indicates that the AMF conducted inspections and identified shortcomings in compliance with market data requirements, which impacts investment management firms, broker-dealers, and wealth managers that provide market data services. This requires medium urgency attention to ensure compliance.
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.
Asset management The Autorité des Marchés Financiers (AMF) has withdrawn the authorisation of the portfolio asset management company Quantology Capital Management
Why this matters
This regulatory update from the AMF involves the withdrawal of authorization for a portfolio asset management company, which is relevant to the investment management and capital markets sectors. The key topics are authorization/licensing and prudential/capital requirements for asset managers.
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.
Appointment AMF activity Institutional Journalists Laure Tertrais is appointed Head of the AMF Chair’s Executive Office with effect from 1 April 2023
Why this matters
This is an announcement of a new appointment at the AMF, the French financial markets regulator. It is informational in nature and does not require immediate action from firms.
Sustainable Finance Asset management Sustainable Finance Disclosure Regulation: the AMF publishes a study on classifications and fossil fuel exposure in the French funds universe
Why this matters
This regulatory update from the AMF (French financial markets regulator) is focused on the Sustainable Finance Disclosure Regulation (SFDR) and the classification and fossil fuel exposure of French investment funds.
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.
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.
Innovation Market infrastructures Post-trading infrastructures Market infrastructures on blockchain: Application of the EU DLT Pilot Regime from March 23rd
Why this matters
This regulatory update discusses the application of the EU DLT Pilot Regime, which is relevant for capital markets and crypto/digital asset firms. It covers technology and authorization/licensing topics, so it is of medium urgency for fintechs and crypto exchanges.
Asset management Anti-money Laundering 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 investment managers, banks, and wealth managers.
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.
EMIR Termination of membership towards Indian central counterparties: a transition period planned for the French credit institutions
Why this matters
This regulatory update is relevant for French credit institutions and their membership towards Indian central counterparties. It involves prudential and authorization requirements, which are of medium importance for the banking sector.
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
Why this matters
This regulatory update from the AMF focuses on the Sustainable Finance Disclosure Regulation, which impacts investment management firms, wealth managers, and banks that offer sustainable financial products.
Artificial intelligence Financial disclosures & corporate financing Innovation Prospectus Artificial intelligence, towards new contributions for regulators
Why this matters
This regulatory update discusses the implications of artificial intelligence for financial regulators, covering topics related to financial disclosures, corporate financing, and innovation.
This regulatory update from the AMF covers a range of sectors and topics relevant to investment management, capital markets, and crypto/digital assets firms. It includes priorities around authorization, reporting, and technology/cyber, indicating medium urgency for firms in these areas to review and prepare.
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.
This regulatory update from the AMF (Autorité des Marchés Financiers) is focused on the renewal of its consultative commissions, including the Climate and Sustainable Finance Commission.
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.
Appointment Institutional AMF activity Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services...
Why this matters
This is an announcement of a new chair appointment at the French financial markets regulator, the AMF. It is informational in nature and does not require immediate action, hence the low urgency classification.
Markets Financial disclosures & corporate financing The Autorité des marchés financiers (AMF) has requested the resumption of listing of ORPEA’s securities today
Why this matters
This regulatory update from the AMF relates to the resumption of listing for securities of the company ORPEA, which is likely of interest to various financial firms including asset managers, broker-dealers, and banks.
Sustainable Finance Governance Financing the economy Other professionals Executive & other private individuals Fintech Market Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This regulatory update from the AMF and ACPR focuses on monitoring and assessing the climate commitments of Paris financial center actors, which is relevant for a range of financial sectors including banking, investment management, and capital markets.
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.
Supervision UCIT Asset management Journalists Investment management companies The AMF calls on investment fund depositaries to strengthen their arrangements for the onboarding and monitoring of asset management companies
Why this matters
This regulatory update from the AMF (French financial regulator) calls on investment fund depositaries to strengthen their arrangements for onboarding and monitoring asset management companies.
Markets Executive & other private individuals Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management companies Listed companies and issuers ...
Why this matters
This regulatory update is about the AMF awarding a prize for young researchers in economics, which is informational in nature and does not require immediate action from regulated firms.
Asset management The AMF updates its doctrine to facilitate the adoption of liquidity management tools
Why this matters
This regulatory update from the AMF focuses on facilitating the adoption of liquidity management tools, which is relevant for investment managers, wealth managers, and banks that offer investment products.
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.
AMF activity AMF Chair: Proposal to appoint Marie-Anne Barbat-Layani
AI Analysis
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.
Suggested considerations
binding appointment proposal without compliance obligations. Recommended steps include:
Monitor AMF website (https://www.amf-france.org) for ratification confirmation and any inaugural statements on priorities.
Review existing AMF relationships and prepare for potential shifts in supervisory engagement.
No specific regulatory changes or new requirements are outlined in this publication, as it solely concerns a leadership appointment proposal rather than substantive rule amendments. The AMF's standard process for such proposals involves board review and government ratification, but no alterations to the General Regulation, policies, or compliance obligations are proposed here.
Compliance impact
Urgency: Low – This is a procedural leadership announcement with no immediate regulatory or operational impacts. It matters for long-term strategic planning, as the new Chair could influence AMF's approach to MiFID II implementation, sustainability integration, or enforcement, but firms face no urgent adjustments today.
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.
Crypto-assets Anti-money Laundering Supervision Journalists Investment services providers AMF and ACPR announce the withdrawal of BYKEPS SAS’s registration as a DASP
Why this matters
This regulatory update announces the withdrawal of BYKEPS SAS's registration as a Digital Asset Service Provider (DASP), which is relevant for crypto and digital asset firms.
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.
Sustainable Finance AMF activity Journalists Call for candidates: renewal of the members of the Climate and Sustainable Finance Commission
Why this matters
This regulatory update is related to the renewal of the members of the Climate and Sustainable Finance Commission, which is relevant for banking, investment management, and wealth management firms that are subject to ESG and sustainability regulations.
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.
Supervision Journalists Investment services providers The AMF publishes a summary of its SPOT inspections on simple, transparent and standardised securitisation
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) relates to inspections on simple, transparent and standardised securitisation, which is relevant for banking, investment management and capital markets firms.
MIFID Sustainable Finance Asset management Sustainability requirements in the distribution of financial instruments: update on upcoming legislation and its implementation dates
Why this matters
This regulatory update is focused on upcoming sustainability requirements for the distribution of financial instruments, which will impact investment managers, wealth managers, and banks.
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.
AMF activity Appointment Journalists End of the term of office of the AMF chairman and interim chairmanship
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) relates to the end of the term of office of the AMF chairman and the interim chairmanship. This is relevant for banking, investment management, and capital markets firms that are regulated by the AMF.
Market infrastructures Post-trading infrastructures EMIR Common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR: the AMF complies with ESMA guidelines
Why this matters
This regulatory update from the AMF relates to the supervisory review and evaluation process of central counterparty clearing houses (CCPs) under EMIR. It is relevant for banks, broker-dealers, and other firms involved in capital markets and post-trading infrastructure.
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.
Sanctions & settlements Compliance Journalists Investment services providers The AMF Enforcement Committee fines a depositary for breaches of its professional obligations
AI Analysis
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.
Key dates
20 July 2022
- AMF Enforcement Committee decision date imposing €500,000 fine and warning on RBC ISBF
08 January 2026
- Public news release/publication date of the decision
Suggested considerations
Review depositary controls: Audit tiered intervention procedures for ratio overruns; ensure unique tracking (even if not upheld here) and redundancy elimination in reporting.
Enhance cash flow monitoring: For all inflows/outflows, collect "precise and convincing" docs (e.g., ownership proofs for advances >5% capital); flag inconsistencies with fund docs/prospectus.
Conduct gap analysis: Sample historical flows (e.g., 45-month lookbacks) across AIFs/UCITS; test against AMF objections standards from this and similar cases (e.g., CACEIS).
Update policies/procedures: Document controls for legality checks on instructions; train staff on evidentiary thresholds to avoid "deficient monitoring" findings.
Appeal if applicable: Lodge appeal against decision (no deadline specified).
What changed
This is an enforcement decision, not a new regulation, but it clarifies and reinforces existing depositary obligations under French UCITS/AIFMD rules (e.g., Articles L. 214-7 et seq.
Ratio monitoring and intervention: Depositaries must implement tiered procedures for investment/asset composition ratio breaches (e.g., diversification limits); 25 of 28 alleged anomalies were upheld...
Cash flow oversight: Must identify significant/inconsistent flows, verify instructions against laws, fund rules, prospectuses, and ensure ownership thresholds (e.g., 5% capital holding for advances);...
Compliance impact
Urgency: Medium – Recent publication (08 January 2026) signals ongoing AMF focus on depositary failings amid H2O-related probes, but stems from 2022 events with no immediate deadlines. Matters because it sets precedents for fine quantum (€500k) on procedural lapses, reinforces liability for cash/ratio controls, and aligns with pattern of multi-million fines (e.g., CACEIS €3.5m), urging preemptive audits to mitigate enforcement risk.
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.
AMF activity Appointment Journalists Grégoire Vuarlot is appointed coordinator of the ACPR and AMF Joint Unit starting 1st July 2022
Why this matters
This regulatory update announces the appointment of a new coordinator for the ACPR and AMF Joint Unit, which oversees banking, investment management, and wealth management firms. The appointment is informational in nature and does not indicate any immediate regulatory changes.
Crypto-assets Innovation Market infrastructures on blockchain technology: publication of the European Pilot Regime regulation
Why this matters
This regulatory update is focused on the publication of the European Pilot Regime regulation, which is relevant for crypto-asset and blockchain-based market infrastructure firms. It covers topics related to technology and authorization/licensing requirements for these types of firms.
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.
Institutional AMF activity Appointment Journalists Appointments to the Legal Affairs Directorate and Enforcement Assistance Directorate of the Autorité des Marchés Financiers
AI Analysis
This AMF publication announces internal appointments to its **Legal Affairs Directorate** and **Enforcement Assistance Directorate**, signaling potential enhancements in legal oversight and enforcement capabilities within France's financial markets regulator. Compliance professionals should note this as it may indicate a renewed focus on rigorous enforcement of market rules, though it imposes no direct regulatory changes on firms.
Key dates
16 October 2023
- Appointment of Sébastien Raspiller as AMF Secretary General
13 February 2024
- Ministerial order partially renewing AMF Enforcement Committee
20 February 2024
- Publication of Enforcement Committee appointments
27 February 2024
- Composition published in Official Journal
Suggested considerations
*No specific actions are required for regulated firms, as this does not introduce obligations. Recommended monitoring steps for proactive compliance:
Review ongoing AMF interactions (e.g., inspections) for potential shifts in approach under new directorate leadership.
Update internal AMF contact lists with confirmed governance details from https://www.amf-france.org/en/amf/our-organisation/our-governance.
Track AMF news releases for enforcement trends at https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases.
What changed
There are no regulatory changes, new requirements, or policy updates in this announcement. It solely details personnel appointments within AMF's internal structure, specifically leadership roles in directorates handling legal affairs (e.g., Maxence Delorme as head of Legal Affairs Directorate) and enforcement assistance (e.g., Amélie du Passage as head of Instruction and Enforcement Assistance Directorate). These directorates support AMF's core functions like investigations, inspections, and sanction proceedings, but the publication does not alter any rules applicable to regulated entities.
Compliance impact
Urgency: Low. This matters peripherally for firms anticipating AMF enforcement, as new leaders in Legal Affairs and Enforcement Assistance could signal stricter scrutiny or faster processing of cases, similar to past leadership transitions (e.g., Secretary General appointment in 2023). However, absent policy shifts, it does not demand immediate compliance adjustments; monitor for signals in AMF's 2026 priorities announced 14 January 2026.
Financial disclosures & corporate financing The AMF ensures compliance with major holding reporting obligations
Why this matters
This regulatory update from the AMF (Autorité des Marchés Financiers) relates to compliance with major holding reporting obligations, which is relevant for firms in the banking, investment management, and capital markets sectors.
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.
Europe & international Sustainable Finance Asset management The AMF reiterates its call for a European regulation of ESG data, ratings, and related services
Why this matters
This regulatory update from the AMF calls for a European regulation of ESG data, ratings, and related services, which is relevant for investment managers, wealth managers, and banks involved in capital markets and trading activities related to ESG and sustainable finance.
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.
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.
Annual report Institutional Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This regulatory update from the AMF covers their annual report and strategic plan, which is relevant for investment managers, broker-dealers, and fintech firms. The key topics include reporting and disclosure requirements, technology and cyber risks, as well as authorization and licensing for firms operating in the...
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.
Appointment AMF activity Other professionals Executive & other private individuals Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers Investment management...
Why this matters
This regulatory update announces appointments within the French financial regulator AMF, which is relevant for investment management firms, wealth managers, and banks operating in the French market.
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.
Asset management The AMF updates its policy on portfolio asset management company control systems and programmes of operations
Why this matters
This regulatory update from the AMF focuses on portfolio asset management company control systems and programmes of operations, which is relevant for investment management and wealth management firms. It covers operational resilience and authorization/licensing requirements.
Appointment Journalists Investment management companies The AMF announces the appointment of Jessica Reyes as Director of the Asset Management Regulation Division
Why this matters
This is an announcement of a new director appointment at the French financial regulator AMF, which oversees investment management firms and wealth managers. The appointment is relevant for those sectors and topics related to authorization and governance.
Anti-money Laundering Asset management The AMF and TRACFIN sign a new cooperation protocol
Why this matters
This regulatory update is relevant for asset managers, banks, and wealth managers as it involves a new cooperation protocol between the AMF (French financial markets regulator) and TRACFIN (the French anti-money laundering and counter-terrorist financing intelligence unit).
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.
MMF The AMF publishes a stock-take analysis of the market for short-term debt instruments in Europe
Why this matters
This regulatory update from the AMF provides an analysis of the short-term debt instrument market in Europe, which is relevant for banking, investment management, and capital markets firms.
Appointment AMF activity Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This regulatory update announces the appointment of a new Head of the Strategy and Sustainable Finance Unit at the AMF, which is relevant for investment management firms, banks, and fintechs operating in the capital markets and sustainable finance space.
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.
Sanctions & settlements Journalists The AMF to call for an amendment of the law on obstructing investigations and inspections
AI Analysis
The AMF announced its intention to propose legislative amendments to the French Monetary and Financial Code following a January 28, 2022 Constitutional Council decision that found dual prosecution for obstructing AMF investigations and inspections unconstitutional. The amendment aims to eliminate the possibility of simultaneous administrative and criminal penalties for the same obstruction conduct, while preserving the AMF's enforcement authority.
Key dates
January 28, 2022
- Constitutional Council decision declaring dual prosecution unconstitutional
Current status (as of January 2026)
- Amendments appear to be in legislative proposal stage; no effective date yet announced
No specific implementation deadline stated Deadline
- AMF committed to proposing amendments "as soon as possible"
Suggested considerations
*For compliance professionals and regulated entities:
*Review cooperation policies: Ensure internal procedures for responding to AMF investigation and inspection requests comply with current legal requirements and anticipated amendments.
*Monitor legislative developments: Track publication of proposed amendments in the French legislative process to understand final scope of changes.
*Counsel on cooperation: Advise business units that obstruction remains sanctionable; the amendment eliminates dual penalties, not the underlying obligation to cooperate.
*Document compliance: Maintain records demonstrating good-faith cooperation with AMF requests to support defense against obstruction allegations.
What changed
The primary regulatory change addresses a constitutional violation regarding dual prosecution under the ne bis in idem principle:
Current problem: The Monetary and Financial Code previously allowed both administrative sanctions by the AMF Enforcement Committee and criminal prosecution for identical obstruction conduct,...
Proposed solution: Legislative amendments will eliminate the possibility of dual prosecution while maintaining the AMF's ability to sanction obstruction of investigations and inspections.
Scope of obstruction conduct: The law covers refusal to allow access to documents, provide copies, communicate information, respond to summons, or grant access to professional premises during AMF...
AMF activity Focus on inDECx: the new tool to be used when interacting with the AMF during an inspection or investigation
Why this matters
This regulatory update from the AMF introduces a new tool called inDECx that firms will need to use when interacting with the AMF during inspections or investigations. This is relevant for investment managers, broker-dealers, and crypto exchanges as they may be subject to AMF oversight and inspections.
Europe & international Sustainable Finance Asset management The AMF invites providers, users and rated entities to respond to ESMA's Call for evidence on the ESG rating market in Europe
AI Analysis
The AMF is urging French stakeholders—ESG rating providers, users, and rated entities—to respond to ESMA's 2022 Call for Evidence on the EU ESG rating market to inform European Commission efforts on improving transparency and reliability. This matters as it contributes to the foundational data driving the ESG Ratings Regulation (EU 2024/3005), which imposes authorization, disclosure, and conflict-of-interest rules on providers, affecting sustainable finance compliance across the EU. With the regulation applying from 2 July 2026, early engagement helps shape final rules amid ongoing ESMA consultations on technical standards.
Suggested considerations
For Users and Rated Entities: Although the 2022 Call for Evidence is closed, monitor ESMA's ongoing RTS consultations (closed 20 June 2025) and Commission feedback; assess internal ESG data reliance for SFDR/Taxonomy alignment and update policies for new disclosure requirements.
All Affected Firms: Map ESG rating dependencies in investment processes, train compliance teams on upcoming rules, and engage in industry feedback to influence final RTS adoption expected post-Q4 2025.
AMF Stakeholders: Although dated, the notice encouraged French market input; now pivot to compliance readiness for 2026 application.
What changed
This AMF notice itself introduces no new regulatory changes; it promotes responses to ESMA's 2022 Call for Evidence, which gathered market insights to support the European Commission's July 2021 sustainable finance strategy. However, it highlights the push for a European framework on ESG ratings, including transparency on methodologies, conflict-of-interest management, internal controls, and dialogue with rated companies—elements now codified in the ESG Ratings Regulation effective 2 January 2025 (application from 2 July 2026).
Compliance impact
Urgency: High – The 2022 Call for Evidence is historical, but it feeds into the ESG Ratings Regulation now in force (since 2 January 2025), with application looming on 2 July 2026—less than 6 months away as of January 2026. Firms face authorization risks, operational overhauls for conflicts/disclosures, and potential market disruptions if unprepared; non-compliance could halt EU operations or trigger greenwashing probes under SFDR, amplifying sustainable finance scrutiny.
Market infrastructures Benchmark Benchmarks: the AMF will apply ESMA Guidelines
Why this matters
This regulatory update from the AMF relates to the application of ESMA Guidelines on benchmarks, which impacts banking, capital markets, and investment management firms that use or administer benchmarks. It covers reporting, operational resilience, and licensing requirements.
Financial disclosures & corporate financing Executive & other private individuals Journalists Listed companies and issuers Takeover listed companies The AMF proposes targeted measures to make financial markets more attractive for companies
Why this matters
This regulatory update from the AMF proposes measures to make financial markets more attractive for companies, which impacts banking, capital markets, and investment management firms.
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.
Crypto-assets Innovation Market infrastructures New step forward in the adoption of the regulation on a Pilot Regime for market infrastructures based on the blockchain technology
Why this matters
This regulatory update from the AMF relates to the adoption of a new regulation on a Pilot Regime for market infrastructures based on blockchain technology. This is relevant for crypto and digital asset firms as well as capital markets participants that may leverage blockchain technology.
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.
Asset management The AMF informs about the liquidation of the portfolio asset management company « Nestadio Capital »
Why this matters
This regulatory update from the AMF (French financial markets authority) is informing about the liquidation of the portfolio asset management company 'Nestadio Capital'.
Strategy Supervision Other professionals Executive & other private individuals Fintech Market Infrastructures Post-trade Infrastructures Professional investors Journalists Investment services providers ...
Why this matters
This regulatory update from the AMF covers priorities across investment management, capital markets, and fintech firms. Key topics include technology/cyber, authorization/licensing, and reporting/disclosure requirements. The medium urgency reflects the strategic nature of the update.
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.
MIFID Market Data: the AMF applies ESMA Guidelines
Why this matters
This regulatory update from the AMF applies ESMA guidelines on market data, which impacts banking, capital markets, and investment management firms. It covers topics related to market abuse, reporting, and licensing requirements.
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.
Supervision The AMF updates its investigation and inspection charters
Why this matters
This regulatory update from the AMF relates to updates to their investigation and inspection charters, which impacts authorization, reporting, and operational resilience requirements for banks, asset managers, and broker-dealers operating in the French financial markets.
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.
Europe & international Cooperation The AMF and the European Central Bank (ECB) sign a supervisory cooperation arrangement
Why this matters
This regulatory update announces a supervisory cooperation arrangement between the AMF and the ECB, which is relevant for banking, investment management, and wealth management firms operating in Europe.
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.
Asset management Transposition of the directive on the cross-border distribution of collective investment undertakings: the AMF amends its General Regulation and its policy
Why this matters
This regulatory update from the AMF relates to the transposition of a directive on the cross-border distribution of collective investment undertakings. It impacts asset managers and wealth managers who distribute such funds across borders.
Cooperation Derivatives or structured products Europe & international Markets Post-trading infrastructures The AMF and the ACPR sign two cooperation agreements with the SEC regarding the regime applicable to Security Based Swap Dealers (SBSD) in the U.S
Why this matters
This regulatory update is relevant for broker-dealers and banks that engage in security-based swap dealing activities in the U.S. It covers cooperation agreements between European and U.S.
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.
Asset management The AMF has postponed the effective date of the authorisation withdrawal of the asset management company Nestadio Capital
AI Analysis
The Autorité des Marchés Financiers (AMF) postponed the effective date of the authorization withdrawal for Nestadio Capital, a portfolio asset management company, to allow time for fund transfers or liquidation following repeated non-compliance with authorization terms. This matters for compliance professionals as it illustrates AMF's enforcement approach to regulatory breaches in asset management, emphasizing orderly wind-downs to protect investors while signaling risks of judicial intervention if issues persist. The case culminated in judicial liquidation by 2022, highlighting long-term consequences for non-compliant firms.
Key dates
17 December 2019
- AMF Board decides authorization withdrawal
9 June 2020
& **8 December 2020** - Postponements to **30 June 2021**
1 July 2020
- Original latest effective date for withdrawal (or fund transfer/liquidation)
8 June 2021
- Postponement to **31 December 2021** for fund sales/liquidation
4 October 2021
- Conseil d'Etat rejects Nestadio's appeal
Suggested considerations
For Nestadio Capital (historical): Cease non-essential activities under administrator control; complete fund transfers/liquidation; comply with court-appointed liquidator.
For investors: Monitor liquidator updates at https://www.pmrpartners.com/fonds-nestadio/ and AMF communications; pursue claims via judicial process if needed.
For industry peers: No immediate actions, but review internal compliance on authorization terms (e.g., capital adequacy); prepare contingency plans for potential AMF interventions like administrator appointments.
AMF referrals to courts underscore need for firms to self-report issues early to avoid escalation.
What changed
- Initial authorization withdrawal decided on 17 December 2019 due to Nestadio Capital's failure to comply with authorization terms, including capital requirements, with original effective date at...
Multiple postponements: 9 June 2020 and 8 December 2020 extended to 30 June 2021; 8 June 2021 further extended to 31 December 2021 to facilitate fund sales and liquidation.
7 December 2021 postponement tied withdrawal effect to full fund liquidation or judicial liquidation closure, triggered by commercial court judgment on 17 December 2021 opening judicial liquidation...
AMF appointed an administrator (Nathalie Baudry) initially, later a provisional administrator, and requested court appointment of PMR Partners as fund liquidator on 17 February 2022.
Nestadio Capital's appeal to Conseil d'Etat rejected on 4 October 2021.
No new broad regulatory requirements; this is a firm-specific enforcement action under Article L.
Compliance impact
Urgency: low - This is a resolved 2019-2022 enforcement case with no ongoing deadlines or new rules as of 2026; Nestadio is in judicial liquidation. It matters as a precedent for AMF's phased withdrawal process, protecting investors via extensions and liquidators, but warns asset managers of severe outcomes for breaches like capital shortfalls—review governance and capital monitoring to mitigate similar risks.
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.
Financial products Bids Shares Financial disclosures & corporate financing Markets The AMF publishes a study on the development of the SPAC market and its challenges
Why this matters
This regulatory update from the AMF focuses on the development and challenges of the SPAC market, which impacts capital markets, consumer credit, and mortgage/lending firms. Key topics include market abuse, reporting/disclosure, and authorization/licensing requirements for SPAC-related activities.
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 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 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.