Control authority

• The Financial Markets’ Authority (Autorité des Marchés Financiers, AMF):

Created by the Financial Security Law 2003-706 of 1 August 2003, the French Financial Markets’ Authority (AMF) comes from the amalgamation of three different councils and is now the only one that still exists. This is an independent authority made of a "college" (Collège de l’AMF), a "penalty commission" (Commission des sanctions) and several special commissions.

This authority can regulate, supervise and allow the efficient working of financial markets. It can also sanction. The Financial Markets’ Authority is allowed to control and investigate and, in case of dealings forbidden by its regulations or behaviours that transgress professional obligations, the Penalty Commission can give penalties. But when the facts seem to constitute a delict, the College automatically transmits the case to the district attorney. It is up to him to decide if there is a strong enough case to prosecute the suspects.

The Financial Markets’ Authority is authorized to receive any claim about financial markets and instruments. Any party who wants an amicable arrangement can ask the arbitrator of the Authority for it. He can propose solutions to disputes which he is aware of, specially when they are relating to investors’ information.

► Homepage:http://www.amf-france.org/default.asp