The Financial Markets Authority celebrates its 20th anniversary on Thursday in Bercy to defend its role in the Paris market, with the desire to increasingly expand its fields of intervention. At the headquarters of the Ministry of Economy, the Independent Public Authority brings together its former presidents, the actors of the financial center of Paris and other stock market regulators starting at 5:00 p.m. to outline its history and plan its future.
The Authority was created in 2003 through the merger of the Exchange Commission, the Financial Markets Council and the Financial Management Disciplinary Council in order to build a single securities market regulator. The intervention of the Minister of Economy, Bruno le Maire, and Gary Gensler, president of the Securities and Exchange Commission (SEC), the American equivalent of the AMF, is expected.
700 managers monitored
The AMF, a key player, approves companies’ IPOs or their exit from the market, controls the companies and can sanction them by referring the matter to its Sanctions Commission, which then acts independently. Its 530 employees must monitor 700 management companies and ensure that no one attempts to distort the functioning of the market through poor communication or internal misconduct or, worse still, attempts to harm savers.
The fields of intervention have expanded in the last 20 years, following the new financial practices of cryptoasset brokers and the new European requirements regarding sustainable finance, a significant part of which will come into force on January 1.
Given the rejuvenation of stock brokers for several years, their communication extends to social networks, which have become an “essential” channel according to its current president Marie-Anne Barbat-Layani, even more so with the proliferation of influencers in the financial field. .
Source: BFM TV
