Regulatory Enforcement and Compliance Update Impact of AMF Disciplinary Commission Decisions for Distributors and Manufacturers in France

The rules governing the distribution of financial products is going through an unprecedented period. Never before have these rules been so thoroughly challenged by the AMF Disciplinary Commission. Recent decisions of the AMF Disciplinary Commission will have a significant impact on investment and asset management firms and CIF operating in the French market. Our panel will break down these developments and outline the practical steps organisations can take to remain compliant and prepared.

TOPICS WILL INCLUDE:

• New conditions applicable for distributors to receive inducements
• New general monitoring requirements applicable to asset managers for the distribution activities carried out by distributors
• Recent conditions for the qualification of AIFs for club deals transactions: What level of discretionary power over day-to-day operations?
• CIF and distribution via FID, FID and FAS in Luxembourg-law life insurance contracts
• AMF’s position regarding tied agents of investment firms

QUESTIONS?

Please contact Patrice Robert.

Paris-based partner Hugues Bouchetemble will discuss some of the key features of these decisions and how they might impact financial services businesses in France. Valentine Baudouin, founder and partner, regulatory, structuring and compliance at Regvantage, a regulatory and compliance advisory firm based in Paris, will provide her insights from her work with businesses including asset management firms, investment services, and financial advisors. Our London-based partner William Yonge will also provide commentary in relation to the comparative approach to these issues in the UK.