Regulatory AlertsProcedure for Recognition of Foreign Markets in States Not Party to the European Economic Area Agreement
The Autorité des Marchés Financiers (AMF) issued Instruction DOC-2019-05 to clarify the conditions under which foreign markets are recognized in France. The revised procedure specifies that foreign markets do not require formal recognition provided they do not solicit non-professional clients, either directly or indirectly through intermediaries, to trade negotiable financial instruments. Additionally, the instruction defines the specific circumstances under which market operator communications are considered directed at non-professional investors established or residing in France.
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