France’s AMF Discloses Compliance Issues of Client Suitability Tests

[kreslik.news]

France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), has identified compliance violations concerning the client suitability and appropriateness practices applied by some investment firms.

To stay on top of compliance, financial services operators have to gain insights into the financial situation of the client, including his investment knowledge, experience and objectives. The genesis of these requirements lies in Markets in Financial Instruments Directive (MiFID II) regulation, which took effect in January 2018.

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As a result of the AMF’s audits conducted at the beginning of 2018, several types ... (read more)