The AMF publishes its priorities for 2022, the final year of its five-year strategy.
2021 was synonymous with economic recovery in a health situation that remained confused after 2020, characterized by the Covid-19 pandemic and subsequent containment. Financial markets in particular are central to this recovery, especially business equity. Therefore, AMF processed a large number of transactions and kept paying attention to the quality of the files. At the same time, individuals confirmed a new interest in the stock market. Since its inception in 2021, approximately 2.5 million French and foreign private investors have traded at least one quarterly financial instrument within AMF’s control. They are also young. This trend has led AMF to step up its educational efforts to better support investors who are still beginners. 2021 was also a year of strong mobilization in favor of sustainable finance. In addition to contributing to European regulatory operations, the AMF, for example, uses a panel of companies to review financial and non-financial information to highlight good practices in terms of climate reporting and highlight the necessary improvements. I am. And future regulatory issues.
AMF’s 2022 action priorities continue to be guided by a five-year #Supervision2022 strategy to complete certain initiatives taken in recent years. They are based on four main axes.
- European levelAMF is mobilizing, by providing technical assistance to the French President of the European Union Board in the first half of 2022 and contributing to the work of Europe, whether or not to enhance the transparency of capital markets, the economy Funding for, preparing for the implementation of future European frameworks for crypto assets, or asset management in the convergence of oversight.
- Private investment : AMF intends to work for a European framework that protects savers while promoting access to capital markets. In this spirit, AMF has already developed a draft regulation and will play its full role in reflection, with a view to a European strategy for private investors. AMF will also continue its educational activities aimed at preventing new investors and fraud and fraudulent marketing practices by mobilizing all involved players.
- Sustainable finance : AMF supports companies in implementing European classifications and contributes to the development of sustainability reporting standards. The AMF also prioritized the fight against greenwashing in 2022 and continues to work on applying the European Transparency Framework, proposing appropriate labels and standards, and contributing funding to the transition to carbon neutrality. increase.
- Continued modernization of regulatory behavior : AMF continues to generalize the more intensive use of data for all business lines, for example by relying on ICY platforms that implement big data and artificial intelligence technologies. Expand ROSA Extranet, which has been open to portfolio management companies since 2021, to products including 12,000 French investment funds. At the same time, the organization of work within AMF is redesigned in the context of facility reorganization and telework sustainability.
The AMF also details its supervisory priorities for the year. The identified themes include:
- asset management : Valuation of illiquid assets such as real estate and corporate bonds, compliance with sustainable financial constraints and contractual commitments, governance and quality of reported data, monitoring and control of portfolio management by custodians.
- Brokers and market infrastructure activities : Quality of fixed income transaction data (post-transaction transparency) and reporting of derivative transactions, provision of market data by exchanges, and cross-border activities.
- Marketing and investment advice : Supervision of financial investment advisors, management of marketing performed within the banking network, establishment and transparency of distributor costs and fees, marketing to vulnerable elderly within the common polar framework with ACPR.
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