Autorité des marchés financiers
|
Autorité des marchés financiers (AMF) |
|
|---|---|
| State level | Federal authority |
| position | Independent authority in France |
| founding | August 1, 2003 |
| Headquarters | Paris , France |
| Authority management | Gérard Rameix, Chairman |
| Servants | 403 (end of 2012) |
| Web presence | www.amf-france.org |
The Autorité des marchés financiers (AMF) is the financial regulator in France . The AMF is an independent public authority and is responsible for maintaining an orderly financial market, securing investments in financial instruments and all other savings and investment products.
history
The AMF was founded with the Financial Stabilization Act of August 1, 2003. It emerged from the merger of the Commission des opérations de bourse (COB), the Conseil des marchés financiers (CMF) and the Conseil de discipline de la gestion financière (CDGF). The AMF is an independent public body with its own legal personality and financial autonomy. The defined tasks are:
- Securing investments in financial instruments and in all other forms of savings and investments
- Ensuring that investors receive all key information
- Maintaining an orderly financial market
The AMF also supports the regulation of financial markets at European and international level.
tasks
The AMF has four types of tasks:
- regulation
- Approval
- At sight
- enforcement
The AMF's area of expertise extends over:
Corporate finance activities and information
The AMF regulates corporate finance activities and information from listed companies. Listed companies are obliged to regularly inform the public about their business, results and financial relationships. The AMF oversees and monitors this information. This ensures that investors are informed precisely, precisely, fairly and on time.
Control of funds
The AMF authorizes the opening of open-ended and closed-end funds. It checks the information in the simplified sales prospectuses, which must be made available to customers before they invest in a product. In the case of complex products such as B. structured funds, the AMF ensures that the special features of the products and their effects are clearly described to the investor.
Market and infrastructure
The AMF defines the organizational principles and operations for market providers such as Euronext Paris (trading in shares, fixed income securities and derivatives) and securities settlement systems and central securities depositories such as Euroclear France. The AMF also approves clearing house rules such as Clearnet.
Financial service providers
The competence area financial service providers concerns credit institutions, investment companies, investment advisors and direct marketers. The AMF defines rules of conduct and other requirements for professionals who are authorized to provide investment services. The AMF approves investment companies and professional associations that represent investment advisers.
enforcement
In order to carry out the tasks, the AMF is authorized to carry out inspections and investigations. The enforcement committee can impose penalties or sanctions for violations of regulations or professional obligations. In the case of criminal offenses, the findings are passed on for criminal prosecution.
Individual evidence
- ^ Autorité des marchés financiers (AMF) website
- ↑ AMF - Overview and Tasks ( Memento of the original from June 1, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
