Regulatory AlertsDOC-2013-10 Incentives and Remuneration Received in the Context of Distribution and Mandate Management of Financial Instruments
The French Autorité des Marchés Financiers (AMF) issued Position-Recommendation DOC-2013-10 to provide detailed guidance on the application of the regulatory regime governing incentives and remuneration received during the distribution and mandate management of financial instruments. This doctrine clarifies compliance requirements under Articles 314-76 and 325-6 of the AMF General Regulation, as well as relevant provisions of the Monetary and Financial Code and EU Delegated Regulation 2017/565. The document establishes specific operational rules for investment service providers to ensure that such payments do not compromise the integrity of services provided to clients.
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III - Service Providers III. 1 - Investment Service Providers III. 1.3. Conduct Rules
New version effective January 1, 2027
Doctrine Commercialization
Incentives and Remuneration Received in the Context of Distribution and Mandate Management of Financial Instruments
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Applicable from April 22, 2025 to December 31, 2026 Position - Recommendation DOC-2013-10
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Version Consulted Summary Position-Recommendation DOC-2013-10 provides clarifications for the application of the regime regarding incentives and remuneration received in the context of the distribution and mandate management of financial instruments.
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Article L. 533-10 II 3° of the Monetary and Financial Code
Article L. 533-12-4 of the Monetary and Financial Code
Article L. 542-1 of the Monetary and Financial Code
Articles 314-13 to 314-20 of the General Regulation
Article 325-16 of the General Regulation
Articles 33 to 34 of Delegated Regulation (EU) 2017/565
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Position-Recommendation DOC-2013-10 provides clarifications for the application of the regime regarding incentives and remuneration received in the context of the distribution and mandate management of financial instruments.
Download the doctrine Reference Texts
Article L. 533-10 II 3° of the Monetary and Financial Code
Article L. 533-12-4 of the Monetary and Financial Code
Article L. 542-1 of the Monetary and Financial Code
Articles 314-13 to 314-20 of the General Regulation
Article 325-16 of the General Regulation
Articles 33 to 34 of Delegated Regulation (EU) 2017/565
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Position-Recommendation DOC-2013-10 provides clarifications for the application of the regime regarding incentives and remuneration received in the context of the distribution and mandate management of financial instruments.
Download the doctrine Reference Texts
Articles 314-13 to 314-20 of the AMF General Regulation
Article 325-16 of the AMF General Regulation
Articles L. 533-10 II 3° and L. 533-12-4 of the Monetary and Financial Code,
Articles 33 to 34 of Delegated Regulation (EU) 2017/565
Position-Recommendation DOC-2013-10 provides clarifications for the application of the regime regarding incentives and remuneration received in the context of the distribution and mandate management of financial instruments.
Download the doctrine Reference Texts
Articles 314-13 to 314-20 of the AMF General Regulation
Article 325-16 of the AMF General Regulation
Position-Recommendation DOC-2013-10 provides clarifications for the application of the provisions of Articles 314-76 and 325-6 of the AMF General Regulation, relating to remuneration and benefits received in the context of the commercialization and mandate management of financial instruments.
Download the doctrine Reference Texts
Article 314-76 of the AMF General Regulation
Article 325-6 of the AMF General Regulation
The AMF draws your attention to the fact that this position-recommendation contains different entry-into-force dates.
Download the doctrine Reference Texts
Article 314-76 of the General Regulation
Article 325-6 of the General Regulation
Legal Notices: Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Autorité des Marchés Financiers - 17, place de la Bourse - 75082 Paris Cedex 02