Retro commissions: the financial centre tries to adapt to the AMF's tightening of the screws
A series of decisions by the Autorité des marchés financiers has cast doubt on the legitimacy of kickbacks. Asset management professionals are working together to establish a market standard and legal certainty. Young financial investment advisers (FIAs) are opting for the fee-based model. Altaroc, Eternam, Cheval ...
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Latest publications
AMF Enforcement Committee sanctions Makor Securities and its CEO
In its decision of 20 January 2026, the Enforcement Committee imposed pecuniary penalties of €700,000 and €150,000 respectively on the investment services provider Makor Securities Paris and its director, Mr Yankel Hassan ...
Asset management: iShares, Amundi and Vanguard on the podium for 2025 fund inflows in Europe
Which asset management companies recorded the largest inflows and outflows in Europe last year? Here is the TOP 20 based on Morningstar data. Discover the ranking of asset management companies by flows ...
Simone Westerfeld, future Chief Operating Officer of Oddo BHF
Simone Westerfeld is to join the Oddo BHF Group on 1 June as Deputy Chief Executive Officer. Subject to the approval of the French (ACPR) and German (BaFin) regulatory authorities, she will be appointed a member of the Management Board of Oddo BHF SE ...
Avis d'expert
Nouveau régime fiscal du bailleur privé : un levier pour relancer l’investissement locatif ?
Dans le cadre du Projet de Loi de finances pour 2026, l’Assemblée Nationale ainsi que le Sénat ont approuvé la ...
La titrisation au service des data centers ?
Les projets de construction de data centers à travers le monde, et en particulier aux Etats-Unis et en Europe, atteignent désormais ...
L’intervention humaine face à l’intelligence artificielle dans le secteur financier
Face à la montée en puissance de l’intelligence artificielle, les acteurs financiers doivent adapter leur gouvernance pour concilier automatisation des ...
Placement non garanti : définition réglementaire et obligations des acteurs
L’essor des actifs non cotés et la diversification des canaux de distribution confèrent une importance croissante au service de placement ...
Affaire Eternam : la requalification des club deals en FIA, un tournant majeur pour la régulation de la gestion d’actifs
Le 9 septembre 2025, la commission des sanctions de l'Autorité des marchés financiers (AMF) a condamné la société de gestion ...
Strategy
Retro commissions: the financial centre tries to adapt to the AMF's tightening of the screws
A series of rulings by the Autorité des marchés financiers has cast doubt on the legitimacy of kickbacks. The professionals ...
RockFi moves away from kickbacks and bets on fees
Two years after its creation, the financial investment adviser (FIA) is adopting a remuneration model based on fees ...
France and Germany want to extend the Tibi initiative across Europe
Christian Noyer, Honorary Governor of the Banque de France, and Jörg Kukies, former German Federal Finance Minister, presented ...
Paris Europlace appoints Fabrice Demarigny to rethink its strategy and operations
This move comes just as Olivier Vigna has taken up his post as General Delegate of the association promoting ...
Private equity: Weinberg CP recruits Alix de Solms to develop its private client business
Specialising in SMEs and VSEs, the private equity manager obtained AMF authorisation last year, enabling it to ...
Regulation
Retro commissions: the financial centre tries to adapt to the AMF's tightening of the screws
A series of rulings by the Autorité des marchés financiers has cast doubt on the legitimacy of kickbacks. The professionals ...
AMF Enforcement Committee sanctions Makor Securities and its CEO
In its decision of 20 January 2026, the Enforcement Committee ordered the investment services provider ...
The AMF renews its consultative commissions
The members of the Consultative Commissions are appointed by the AMF Board on the basis of their expertise in the areas covered by ...
New tax regime for private landlords: a lever to boost rental investment?
As part of the Finance Bill for 2026, the National Assembly and the Senate have approved the ...
New legal tools, AI: the AMF flexes its supervision strategy
The Chairwoman of the Autorité des marchés financiers (AMF), Marie-Anne Barbat-Layani, unveiled the AMF's priorities for the ...
Operation
Asset managers want to mobilise savings in the service of sovereignty
Several management companies are launching unit-linked funds to offer savers the opportunity to participate in financing defence...
Kaleon launches second IPO of the year in Paris
The Italian company, which specialises in managing the cultural heritage of Lake Maggiore, has announced a capital increase of at least ...
Real estate and cryptos: an unprecedented transaction without conversion into euros
Valued at over €500,000, the sale of a residential property combines payment in ether and stablecoin with ...
Several development institutions invest in Ardian's “nature” fund
Launched in September 2023, the Averrhoa NBS strategy is aimed at funding projects to restore forests, wetlands ...
Will the “Students Challenge” participants overcome their behavioural biases?
Natixis IM is inviting international students to take part in the sixth edition of its investment management ...
Innovation
AI and financial markets: Polytechnique and Ensae create a new master's degree in Paris
Designed to meet the growing needs of financial institutions for hybrid profiles, the MaQI master's programme aims to train experts capable of...
Banque de France and Euroclear to switch short-term debt to blockchain
[Finascope exclusive] The "Pythagoras" project, which is being carried out on the NEU CP market, marks the first large-scale ...
Asset tokenisation: Brussels revises its proposal, but fails to convince professionals in Paris
The European Commission intends to breathe new life into the Pilot Scheme on tokenisation, with expanded rules and a ...
Crypto-assets: traditional finance adapts to demand from private individuals
The BPCE Group (Banque Populaire-Caisse d'Epargne) is launching a direct investment offering in digital assets, such as bitcoin, at...
Private IPOs: towards a hybrid market between the stock market and private equity?
A Franco-German report currently being drafted explores the possibility of allowing IPOs without listing. The aim is...
Trend
Asset management: iShares, Amundi and Vanguard on the podium for 2025 fund inflows in Europe
Which asset management companies recorded the largest inflows and outflows in Europe last year? ...
French equity funds: Moneta AM and Claresco top the 2025 performance charts
Discover our 2025 rankings of the 20 best French equity funds, large caps and small & mid caps, based on our ...
French equities: top funds in December and the fourth quarter
As we do every month from now on, discover our ranking of the highest returns over one month and one quarter ...
Private debt: Europe almost on a par with the United States in 2025
International investors are seeking to increase the geographical diversification of their portfolios. The European private credit market is also...
The TOP 10 most read expert opinions in 2025 on Finascope
Every week, Finascope publishes opinion pieces and columns by local experts: solicitors, lawyers, market specialists and...
Communiqués
La Commission des sanctions de l’AMF sanctionne Makor Securities et son dirigeant
Dans sa décision du 20 janvier 2026, la Commission des sanctions a prononcé à l’égard du prestataire de services d’investissement ...
L’AMF renouvelle ses commissions consultatives
Les membres des commissions consultatives sont nommés par le Collège de l’AMF pour leurs compétences dans les domaines abordés par ...
L’AMF fixe ses priorités 2026 pour des marchés financiers plus profonds, sûrs et résilients, et ouverts à l’innovation
À l’occasion de ses vœux à la presse, Marie-Anne Barbat-Layani a donné le cap pour l’année : l’Autorité des marchés ...
La Commission des sanctions de l’AMF sanctionne M Capital Partners et ses dirigeants
Dans sa décision du 31 décembre 2025, la Commission des sanctions a prononcé à l’égard de la société M Capital ...
Programme de financement de l’Etat : 310 milliards d’euros d’émissions nettes en 2026
Roland Lescure, ministre de l’Économie, des Finances et de la Souveraineté industrielle, énergétique et numérique, a arrêté le programme indicatif ...
Appointments
Simone Westerfeld, future Chief Operating Officer of Oddo BHF
Simone Westerfeld is to join the Oddo BHF group on 1 June as deputy CEO. Subject to ...
Generali Investments strengthens its sales team in France
Generali Investments (€632 billion in assets under management), which was due to merge with Natixis Investments Managers before the two groups ...
Sophie de Nadaillac, Chairman of Lazard Frères Gestion
François-Marc Durand announced on Thursday that he was handing over the chairmanship of Lazard Frères Gestion to Sophie de Nadaillac, ...
Private equity: Weinberg CP recruits Alix de Solms to develop its private client business
Specialising in SMEs and VSEs, the private equity manager obtained AMF authorisation last year, enabling it to ...
Pierre-Olivier Duval, Project Manager at IDI
IDI has announced the recruitment of Pierre-Olivier Duval, aged 29, as an account manager to further strengthen its ...