French Financial Markets Authority (AMF)
Regulates French securities markets and promotes investor protection.
Tags:Forex RegulationBasic Information
The Autorité des Marchés Financiers (AMF), or French Financial Markets Authority, is the independent regulatory body overseeing securities and financial markets in France. Established on August 1, 2003, under the Financial Security Act, it safeguards investor interests, ensures market transparency, and maintains orderly financial markets. The AMF operates under European regulatory frameworks, including the Markets in Financial Instruments Directive (MiFID), and collaborates with EU supervisory authorities to harmonize standards.
Historical Background
The AMF originated from the merger of three entities: the Commission des Opérations de Bourse (COB) (1967), the Conseil des Marchés Financiers (CMF), and the Conseil de Discipline de la Gestion Financière (CDGF). This consolidation aimed to streamline financial regulation amid growing market complexity. Key milestones include the appointment of Marie-Anne Barbat-Layani as Chair in 2022 and the integration of European anti-money laundering guidelines for crypto-asset providers.
Legal Authority & Regulatory Framework
The AMF derives its authority from the French Monetary and Financial Code and EU regulations such as the Market Abuse Regulation (MAR). It enforces rules for market participants, including disclosure thresholds for shareholdings (5% minimum) and compliance with MiFID II requirements. The AMF also collaborates with the Prudential Authority (ACPR) to oversee outsourcing arrangements, such as cloud computing services, under Article 313-75 of its General Regulation.
Key Responsibilities & Scope
The AMF’s mandate spans:
1. Market Supervision: Monitoring financial instruments, market infrastructures, and listed companies.
2. Investor Protection: Ensuring accurate disclosure of material information and mediating disputes.
3. Authorization & Enforcement: Licensing financial intermediaries, investment advisors, and collective investment products. It investigates misconduct (e.g., insider trading, market manipulation) and imposes sanctions via its Enforcement Committee.
4. International Coordination: Partnering with EU and global regulators to align standards and combat cross-border financial crimes.
AML/CFT Oversight
The AMF enforces anti-money laundering (AML) and counter-terrorist financing (CFT) measures for entities under its supervision, including crypto-asset service providers. It applies guidelines from the European Banking Authority (EBA) and coordinates with TRACFIN, France’s financial intelligence unit.
Contact Information
Headquarters:
17 place de la Bourse
75082 Paris Cedex 02, France
Phone: +33 (0)1 53 45 60 00
Website: www.amf-france.org
Verifying Regulatory Status
To confirm if a firm is AMF-regulated:
1. Visit the AMF’s Regulated Entities Directory.
2. Search by entity name, registration number, or activity type (e.g., Forex broker).
3. Cross-check authorization details against the AMF’s General Regulation and public enforcement decisions.
