The Markets in Financial Instruments Directive II (MiFID II) is a European Union (EU) regulation that was implemented in January 2018. It is designed to increase transparency and investor protection in the…
Month: May 2023
AMF working group proposes several improvements applying to Equity savings plans (ESP)
The Autorité des Marchés Financiers (AMF) has published the report of the working group set up in September 2022 to analyse the difficulties encountered by some retail investors in using their equity savings plans (PEAs), in particular with transfer times. The report sets out some 15 practical proposals aimed at remedying the problems identified at the operational level and at informing retail investors more effectively about the sometimes complex PEA procedure and rules.
AMF updates its reporting policy for Article 29 of the Energy-Climate Law
Following the approval of amendments to its General Regulation, the AMF has updated its policy to specify the procedures for preparing and submitting the report required under Article 29 of the Energy-Climate Law (LEC 29) from investment services providers (ISPs), including asset management companies.
AMF Withdraws Authorization of Asset Management Company Quantology Capital Management
Taking into account the situation of the portfolio asset management company Quantology Capital Management, the AMF Board has decided to withdraw its authorisation. This will take effect on 30 June 2023 at the latest.
AMF Inspections Uncover Market Data Shortcomings and Regulatory Breaches
The AMF has published a summary of the findings of a series of short, thematic inspections of four firms providing market data. Four years after the entry into force of the obligations imposed by the Markets in Financial Instruments Regulation (MiFIR), the AMF has identified shortcomings in their compliance with the requirements of the European framework.
Foncière Magellan Breaches Authorization and Fails to Manage Conflict of Interest: AMF Enforcement Committee Decision
Please note that the French version of this press release was published on 10 May 2023.
In its decision of 4 May 2023, the Enforcement Committee imposed a fine of €300,000 on the portfolio asset management company Foncière Magellan.
EU introduces MiCA regulation for crypto-asset markets in digital finance package
The European regulation on crypto-asset markets (“Markets in Crypto-Assets” or “MiCA”) was adopted by the European Parliament on Thursday 20 April. The Autorité des Marchés Financiers (AMF) is preparing the transition towards MiCA and is contributing to the drafting of the implementing technical standards and guidelines that are to be published by the European Securities and Markets Authority (ESMA) before entry into application of the text.