Regulatory AlertsAccess of Financial Analysts Designated within Syndicate Member Institutions to Information Prior to Prospectus Publication
The French Financial Markets Authority (AMF) issued Instruction DOC-2020-05 to establish the principles governing how syndicate bank analysts may access pre-publication information during initial public offerings. This directive specifically addresses the operational procedures required when capital securities are admitted to a regulated market or multilateral trading system for the first time. It ensures compliance with Articles 223-10-1 and 315-1 of the AMF General Regulation by defining the specific context and handling of sensitive data before the prospectus is approved.
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I - Issuers and Financial Information I. 5 - Financial Operations I. 5.2. Stock Market Listings Doctrine Prospectus
Access of Financial Analysts Designated within Syndicate Member Institutions to Information Prior to Prospectus Publication
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Applicable as of October 16, 2025 Instruction DOC-2020-05
Download Viewed Version Summary This instruction sets out the principles allowing, when the financial operation is an initial admission of capital securities on a regulated market or a multilateral trading system, access by syndicate bank analysts to information prior to the publication of the documentation approved by the AMF. It thus describes the operational mode to be put in place vis-à-vis these analysts in the particular context of preparing a company's stock market listing.
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Article 223-10-1 of the AMF General Regulation
Article 315-1 of the AMF General Regulation Archives
Download the doctrine Reference texts
Article 223-10-1 of the General Regulation
Article 315-1 of the General Regulation Keywords
Financial Analysis Legal notices: Publisher: The Director of the AMF Communication Department. Contact: Communication Department, Autorité des marchés financiers - 17, place de la Bourse - 75082 Paris Cedex 02