The French Financial Markets Authority (AMF) has disclosed its top focus areas of action and supervisory priorities for 2023. The watchdog announced the new plan on Monday in a statement published on its website.
The regulator’s priorities for action include to promote retail investors-focused finance, actively work with the European Securities and Markets Authority (ESMA) on “supervisory convergence," develop regulatory framework to promote sustainable finance and combat greenwashing as well as enshrine robust and efficient supervision.
France’s AMF Unveils 4-Fold Priorities for Action
In the first focus area, AMF intends to ensure that its financial education is better targeted at retail investors.
“The AMF will seek out new channels to raise public awareness of the risk of scams, which is continuing unabated, and will draw on the lessons learned from its mystery visits and inspection campaigns to encourage distributors to market products that are genuinely adapted to the different investor profiles,” the regulator explained.
Furthermore, in order to achieve “supervisory convergence,” the AMF says it will work on liquidity management by investment funds in collaboration with the Financial Stability Board and the International Organization of Securities Commissions. In addition, the regulator intends to support the implementation of new legislation such as the European Regulation on Markets in Crypto Assets (MiCA).
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On Sustainable finance, AMF says it will aid listed companies and asset managers in complying with key sustainable financial legislation In addition, the regulator promised to review the first reports submitted by listed companies on their economic activities that are considered to be environmentally sustainable.
Furthermore, AMF noted that it will adapt its tools and guard its enforcement policy in order to stay up-to-date with changes in behaviour and technology.
AMF’s Supervisory Priorities for 2023
Meanwhile, AMF's supervisory priorities for this year cover various categories of market participants. For investment management firms, the regulator said it will focus on cybersecurity arrangements, financial management delegations and the application of the Sustainable Financial Disclosure Regulation (SFDR). For market intermediaries and infrastructure, the regulator plans to search its beam light on the quality of post-trade transparency data and cross-border activities, among other steps.
On top of that, the financial markets supervisor says it will focus on how marketing is done in distribution banking networks, what marketing materials are used and how investor claims are handled, among other measures.
