The Autorité des Marchés Financiers (AMF) has released an update to its position on the distribution of complex financial instruments targeted at distributors of actively managed certificates (AMCs) to retail clients.
The regulatory authority has released new guidelines for investment services providers and financial investment advisors governing the distribution of actively managed certificates (AMCs) to retail clients ‘in view of the increased distribution of these financial instruments in France and the risks they pose for retail clients’. The French regulator noted that the distribution of AMCs to retail clients has increased in recent years in the context of transactions exempt from the obli