AMF DOC-2006-23 Q&A on the Regime Applicable to Financial Investment Advisors

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IV - Commercialization - Customer Relationship
IV. 1 - General Provisions
Doctrine
Investment Services

Q&A on the Regime Applicable to Financial Investment Advisors

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Applicable from January 1, 2024
Position - Recommendation DOC-2006-23

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Summary
These Q&A aim to clarify activities that fall under or do not fall under the status of Financial Investment Advisor (CIF), certain of its obligations (notably in the event of a significant relationship with a financial product promoter, regarding the governance of financial instruments, in the context of advice relating to transactions on diverse assets, or still in the context of the exercise of other wealth management advisory activities), as well as the conditions surrounding banking or financial solicitation for an advisory service.

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Reference texts

Articles L. 541-1 to L. 541-9-1 of the Monetary and Financial Code

Articles 325-1-A to 325-32 of the General Regulation

ORIAS Website

AMF Position DOC-2008-23: Q&A on the notion of investment advisory investment service

AMF Position DOC-2012-08: Placement and marketing of financial instruments

AMF Position-Recommendation DOC-2013-10: Incentives and remuneration received in the context of the distribution and mandate management of financial instruments

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These Q&A aim to clarify activities that fall under or do not fall under the status of Financial Investment Advisor (CIF), certain of its obligations (notably in the event of a significant relationship with a financial product promoter, regarding the governance of financial instruments, in the context of advice relating to transactions on diverse assets, or still in the context of the exercise of other wealth management advisory activities), as well as the conditions surrounding banking or financial solicitation for an advisory service.

Download the doctrine

Download the full preview of the doctrine
Reference texts

Articles L. 541-1 to L. 541-9-1 of the Monetary and Financial Code

Articles 325-1-A to 325-32 of the General Regulation

ORIAS Website

AMF Position DOC-2008-23 - Q&A on the exercise of the investment advisory investment service

AMF Position DOC-2012-08 - Placement and marketing of financial instruments

AMF Position-Recommendation DOC-2013-10 - Incentives and remuneration received in the context of the distribution and mandate management of financial instruments

These Q&A aim to clarify activities that fall under or do not fall under the status of Financial Investment Advisor (CIF), certain of its obligations (notably in the event of a significant relationship with a financial product promoter, regarding the governance of financial instruments, in the context of advice relating to transactions on diverse assets, or still in the context of the exercise of other wealth management advisory activities), as well as the conditions surrounding banking or financial solicitation for an advisory service.

Download the doctrine
Reference texts

Articles L. 541-1 to L. 541-9-1 of the Monetary and Financial Code

Articles 325-1-A to 325-32 of the General Regulation

ORIAS Website

AMF Position DOC-2008-23 - Q&A on the exercise of the investment advisory investment service

AMF Position DOC-2012-08 - Placement and marketing of financial instruments

AMF Position-Recommendation DOC-2013-10 - Remuneration and benefits received in the context of the marketing and mandate management of financial instruments

These Q&A aim to clarify activities that fall under or do not fall under the status of Financial Investment Advisor (CIF), certain of its obligations (notably in the event of a significant relationship with a financial product promoter, regarding the governance of financial instruments, in the context of advice relating to transactions on diverse assets, or still in the context of the exercise of other wealth management advisory activities), as well as the conditions surrounding banking or financial solicitation for an advisory service.

Download the doctrine
Reference texts

Articles L. 541-1 to L. 541-9-1 of the Monetary and Financial Code

Articles 325-1-A to 325-32 of the General Regulation

ORIAS Website

AMF Position DOC-2008-23 - Q&A on the exercise of the investment advisory investment service

AMF Position DOC-2012-08 - Placement and marketing of financial instruments

AMF Position-Recommendation DOC-2013-10 - Remuneration and benefits received in the context of the marketing and mandate management of financial instruments

These Q&A aim to clarify activities that fall under or do not fall under the status of Financial Investment Advisor (CIF), certain of its obligations (notably in the event of a significant relationship with a financial product promoter, regarding the governance of financial instruments, in the context of advice relating to transactions on diverse assets, or still in the context of the exercise of other wealth management advisory activities), as well as the conditions surrounding banking or financial solicitation for an advisory service.

Download the doctrine
Reference texts

Articles L. 541-1 to L. 541-9-1 of the Monetary and Financial Code

Articles 325-1-A to 325-32 of the General Regulation

ORIAS Website

Q&A on the exercise of the investment advisory investment service

Placement and marketing of financial instruments

Remuneration and benefits received in the context of the marketing and mandate management of financial instruments

These Q&A aim to clarify activities that fall under or do not fall under the status of CIF, certain of its obligations (notably in the event of a significant relationship with a financial product promoter) as well as the conditions surrounding banking or financial solicitation for an advisory service. This document has not been updated with regard to the texts transposing MiFID II and separating the legal regime of investment firms and portfolio management companies. This update will be carried out shortly.

Download the doctrine
Reference texts

Article L.541-1 of the Monetary and Financial Code

Article 325-3 of the General Regulation

Article 325-4 of the General Regulation

ORIAS Website

Q&A on the exercise of the investment advisory investment service

Placement and marketing of financial instruments

Remuneration and benefits received in the context of the marketing and mandate management of financial instruments

These Q&A aim to clarify activities that fall under or do not fall under the status of CIF, certain of its obligations (notably in the event of a significant relationship with a financial product promoter) as well as the conditions surrounding banking or financial solicitation for an advisory service.

Download the doctrine
Reference texts

Article L.541-1 of the Monetary and Financial Code

Article 325-3 of the General Regulation

Article 325-4 of the General Regulation

Q&A on the exercise of the investment advisory investment service

Placement and marketing of financial instruments

Keywords

Investment advice
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