The Autorité des marchés financiers (AMF) issued Recommendation DOC-2007-12 to establish guidelines for the production of independent financial analyses during significant financial operations targeting individual retail investors. This doctrine, applicable as of May 18, 2007, aims to ensure the integrity and independence of financial analysis in the context of major public offerings. The recommendation references Article 223-10-1 of the General Regulation and builds upon the work of the Jean de Demandolx Dedons working group.