French watchdog will hold the public consultation on AMF General Regulation Changes starting from the 31st January 2017.
5 January, AtoZForex – The Autorité des Marches Financiers (AMF) is commencing a public consultation from the end of January. The consultation will cover matters in regards to the amendments in its General Regulation.
Consultation on AMF General Regulation Changes
The French watchdog, AMF, will hold a public consultation starting 31 January 2017. The purpose of the consultation is to inform public about the modification to some of the provision of AMF General Regulation. The regulator has published an official announcement regarding this matter on its website on January 4, 2017.
To be more specific, French regulator stated that the upcoming public consultation will cover the changes to the intermediation in diverse property system. The AMF has declared in its official announcement:
“Law no. 2016-1691 of 9 December 2016 on transparency, the fight against corruption, and the modernisation of economic life (the “Sapin II” Law) introduces a change in the system of intermediation in miscellaneous property, as set out in Article 79. Consequently, the Autorité des Marches Financiers (AMF) is launching a public consultation, running until 31 January 2011, on the modifications to some of the provisions in its General Regulation.”
What kind of transactions are involved?
Moreover, the watchdog further explained that the intermediation in diverse property system concerns two kinds of transactions:
1. Proposals in the structure of promotion and direct marketing, welcoming individuals to subscribe to life annuities. Moreover, this includes the direct marketing and advertisement calling individuals to acquire titles to property, where the acquirers don’t administer stated property. Also, the latter case comprises the contract offering a buy-back or switch option with the revaluation of the invested capital.
2. The other proposals concern the acquisition of titles to one or more properties and stress the possibility of financial returns or a similar financial result. Moreover, promotion for such proposals has thus far been subject to ex-post control by the AMF.
The regulator mentioned it will receive all the comments regarding the consultation till the 31 January 2017.
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