Since September 7, 2026, a new European code of conduct has governed research funded, in whole or in part, by the issuing companies.
This development marks an important milestone: the European framework is based on the French Charter of Best Practices for Sponsored Research, established in 2022 by AMAFI, AFG, and SFAF to ensure the quality, objectivity, independence, and transparency of analyses.
With nearly 340 contracts in effect as of the end of 2025, this French initiative has proven effective in enhancing the visibility of publicly traded companies among investors.
The mobilization of the financial community in Paris in connection with the work on the Listing Act has made it possible to extend this model to the European Union level. The new Code should now facilitate the development of sponsored research throughout Europe.
AMAFI,AFG, and SFAF announce the repeal of the French Charter of Best Practices for Sponsored Research, which is no longer necessary (press release in French).
Sponsored research: practice whereby research providers offer issuers, particularly mid-cap issuers, coverage of their company in return for remuneration.