Financial analysis – European Code of Conduct on Sponsored Research
At the end of 2025, ESMA published its final report on the European Code of Conduct applicable to sponsored research, […]
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Liquidity contract – AMAFI Charter
AMAFI published a new version of its liquidity contract charter in early September (AMAFI / 24-48a). The document provides clarifications on operation of the liquidity account, position limits, disclosure of contracts to the AMF and the role of the compliance function.
AMAFI also released new versions of the liquidity contract template (AMAFI / 24-48b) and its accompanying explanatory note (AMAFI / 24-48c). This work was an opportunity to update legislative and regulatory references, to clarify the classification of various securities (illiquid, liquid and highly liquid) and the ban on trading beyond limits set by the AMF, and to add stipulations on initial public offerings and block trades. Clarification was also provided on procedures for takeover of securities.
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Interview with Stéphane Giordano: “We do not need a major institutional overhaul to become more effective”
Find in the new AMAFI–RB publication entitled “A Federal Europe: A Good Solution for the Economy and the Markets? the […]
FTT: AMAFI warns against a tougher approach that would harm French companies
AMAFI has published an impact study on the consequences of raising the rate of the financial transaction tax (FTT) from […]