Regulatory AlertsDOC-2008-23 Q&A on the notion of investment advice service
The French Financial Markets Authority (AMF) issued position DOC-2008-23 to clarify the criteria for defining the investment advice service and the associated diligence and obligations of investment service providers. This document provides detailed questions and answers regarding the regulatory framework applicable to financial investment advisors under Article D.321-1 of the Monetary and Financial Code. The AMF explicitly notes that this guidance has not yet been updated to reflect the transposition of MiFID II and the resulting separation of legal regimes for investment firms and portfolio management companies.
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