Representing financial market professionals based in France



ICSA interim meeting, 10 February 2021

The International Council of Securities Associations (ICSA) met in mid-February with Paul Andrews, Secretary General of the International Organization of Securities Commissions (IOSCO), to discuss IOSCO’s work programme for 2021 and 2022 (link). The meeting...


Anti-money laundering

Annex to ACPR guidelines The ACPR has finalised and published the Annex on market transactions to its guidelines on KYC aspects. This is a significant development for market activities and AMAFI members. The aim of the measures is to capture the specific featu...


Investment firms: new prudential standards

The Regulation (IFR) and Directive (IFD) on the prudential requirements of investment firms published on 4 December 2019 will come into application on 26 June 2021, by which time the directive must be transposed into French law. The IFR and IFD identify th...


SFTR reporting obligation

On 13 July 2020 (cf. Financial Newsletter 41), the first phase of the obligation for investment firms and central counterparties to report securities financing transactions came into effect. Two key phases have taken place since then, with the regime being extende...



European Union (EU) on 24 December of last year. They are expected to be covered by equivalence decisions negotiated in the coming months. In the meantime, besides the temporary equivalences granted to UK central counterparties (CCPs) and central securities deposi...


IOSCO Annual Meeting and ICSA meetings, 9-18 November 2020

The annual general meeting of the International Organization of Securities Commissions (IOSCO) was replaced by a series of virtual meetings because of the Covid-19 pandemic. The International Council of Securities Associations (ICSA) and ICI Global, an internat...



Share trading obligation and derivatives trading obligation In late October ESMA published a statement clarifying the scope of the EU share trading obligation (STO). It said that trading in a third country of shares with an International Securities Identificat...


AMF contributions – 2021 Finance Bill

Beginning in 2019 reforms to the system of dues paid to the AMF led to a substantial increase in the contributions applicable to some smaller firms. The AMAFI lobbied for the system to be rebalanced, and the 2021 Finance Bill currently being discussed includes sev...


Joint message on Consolidated Tape

EFAMA and EFSA welcome the publication of Market Infrastructure Partners' Study on the Creation of an EU Consolidated Tape