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Article L621-1 of the French Monetary and Financial Code

The Autorité des marchés financiers (AMF), an independent public authority, ensures the protection of savings invested in financial instruments, the units referred to inArticle L. 229-7 of the Environmental Code and the assets referred to in II of Article L. 421-1 of this Code that are offered to the public or admitted to trading on a regulated market and in any other investments offered to the public. It also ensures…

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Article L621-2 of the French Monetary and Financial Code

I.-The Autorité des marchés financiers shall consist of a Board, an Enforcement Committee and, where applicable, specialised commissions and consultative committees. Unless otherwise provided, the powers conferred on the Autorité des marchés financiers are exercised by the Board. II – The Board comprises sixteen members: 1° A Chairman, appointed by decree of the President of the Republic ; 2° A member of the Conseil d’Etat appointed by the Vice-President of…

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Article L621-3 of the French Monetary and Financial Code

I. – The Director General of the Treasury or his representative sits on all panels of the AMF, with the exception of the Enforcement Committee, without the right to vote. The Director General of the Treasury or his representative may, except in the case of sanctions, request a second deliberation under conditions set by decree in the Conseil d’Etat. II. – The decisions of each AMF panel are taken by…

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Article L621-4 of the French Monetary and Financial Code

I. – (Repealed). II. – The staff and agents of the Autorité des marchés financiers, its appointed experts and the experts appointed to the Consultative Commissions referred to in III of Article L. 621-2 are bound by professional secrecy under the conditions and subject to the penalties laid down in Article L. 642-1. This secrecy may not be invoked against the judicial authority acting in the context of either criminal…

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Article L621-5 of the French Monetary and Financial Code

A decree in the Conseil d’Etat shall set the conditions and limits under which : 1° The Board may delegate authority to the Chairman or, if the Chairman is absent or unable to act, to another of its members, to take individual decisions falling within its remit; 2° The Board may delegate powers to a specialised commission in accordance with III of Article L. 621-2; 3° The Chairman of the…

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Article L621-5-1 of the French Monetary and Financial Code

A Secretary General is responsible for the operation and coordination of the departments under the authority of the Chairman. The staff of the AMF is made up of public-sector employees under contract and private-sector employees. Under conditions laid down by decree in the Conseil d’Etat, public employees may be placed with the Autorité des marchés financiers in a position provided for by the regulations governing them. The provisions of Articles…

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Article L621-5-3 of the French Monetary and Financial Code

I. – A fixed fee is payable by persons subject to the supervision of the Autorité des marchés financiers, where provided for by law or regulation, in the following cases: 1° In the event of publication by the AMF of a declaration made by a person acting alone or in concert pursuant to II or VII of Article L. 233-7 of the Commercial Code or Article L. 233-11 of the…

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Article L621-5-4 of the French Monetary and Financial Code

I.- The duties and contributions mentioned in article L. 621-5-3 are liquidated, authorised and recovered according to the procedures laid down for the revenues of the State’s public administrative establishments. Disputes relating to these duties and contributions shall be brought before the Paris Administrative Court. They are paid under conditions and on a date set by decree. II – When a payment notice is required, the payment period is thirty…

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Article L621-5-5 of the French Monetary and Financial Code

The Autorité des marchés financiers may receive voluntary contributions from professional associations representing persons subject to its supervision, with a view to financing projects of common interest. An order of the Minister for the Economy shall specify the purpose of these contributions and the associations mentioned in the first paragraph.

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