A review of the AMF’s enforcement procedure: between sanctions and fair trial

Written by Éric Dezeuze

Published by Lamy Liaisons

Twenty years after the official installation on 24 November 2003 of the French Financial Markets Authority, the Autorité des marchés financiers (“AMF”), pursuant to the Financial Security Act of 1 August 2003, the AMF has clearly established itself as a key regulator of the financial markets. This publication, based on the conference held on 24 November 2023, reviews the AMF’s past actions and explores its future challenges.

The protection of savings, investors’ information and the orderly functioning of financial markets have always been at the heart of the AMF’s missions. Nevertheless, the French Monetary and Financial Code has been regularly amended to assign new tasks to the regulator in response to issues such as climate change (greenhouse gas emission quotas, non-financial reporting) and technological developments (blockchain, AI, algorithmic trading). These matters were discussed during the conference and are covered in this publication, from three main perspectives: the AMF and market regulation; the AMF and market participants, whether the stock exchange operator, shareholders or the asset management industry; as well as the AMF’s enforcement activities. Read more