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10-06-2014 - Stéphane Giordano is AMAFI’s New Chairman

The AMAFI Board elected Stéphane Giordano as its new Chairman on 6 October 2014.

Mr Giordano has held several positions at the Société Générale Group, and in November 2007 took over as Chief Executive Officer of SG Securities (Paris). At that time, he also joined the AMAFI Board. He currently works at the Public Affairs division of Société Générale GBIS, having previously served as Head of Execution Services Paris and then Chairman of SG Securities (Paris). He is a graduate of Ecole Polytechnique.

09-10-2014 - European Financial Transaction Tax

The European Forum of Securities Associations (EFSA), a confederation comprising associations from eight European countries, wrote to the finance ministers of states participating in the enhanced cooperation procedure for the European financial transaction tax (FFT). In France, AMAFI forwarded the letter, available on its website, to Finance Minister Michel Sapin and Economy Minister Emmanuel Macron.

09-08-2014 - MiFID 2

The consultation paper and discussion paper on MiFID 2, put out for comment by the European Securities and Markets Authority (ESMA) between end-May and 1 August, confirmed industry expectations that the Level 2 measures will have an equivalent or larger impact than those at Level 1. The huge number of documents submitted by ESMA – more than 800 pages and as many questions – was matched by the 600 or so responses published.

09-07-2014 - Payment for research

The UK Financial Conduct Authority (FCA) published on 10 July a paper titled "Discussion on the Use of Dealing Commission Regime". The FCA's research has led it to conclude that the current situation is unsatisfactory despite the reforms made over the past decade. This observation is particularly true in terms of competition, an area where conflicts of interest are persistent and the value chain is highly opaque. Urging reforms that would ban the use of dealing commissions to pay for research, the FCA has put its analysis out for discussion.


AMAFI Newsletters

AMAFI Financial Newsletter N° 23

October 2014


AMAFI Financial Newsletter N° 22

April 2014


AMAFI Financial Newsletter N° 21

December 2013


Past issues


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