Financial market offense, financial market, offense, crime, state, the US, criminal offense, AMF Autorité des Marchés Financiers, protection of savings, financial instruments, independent public authority, inside dealing, enforcement committee
The French AMF is an independent public authority. It is made of two distinct bodies (the board and the enforcement committee), there is no hierarchy, board members cannot be members of the enforcement committee at the same time.
The AMF is in charge of overseeing the protection of savings invested in financial instruments. It monitors disclosure (the fact they are informed in the right way) and the orderly operations of financial market.
Its role could lead us to compare the AMF to a sort of police for financial markets.
[...] The accumulation of information about such people activities and enterprises for political or military uses. The actus reus is collect, publish, communicate public information The mens rea intent to communicate the information collected Anti-Terrorism Measures Three main sources of law with regard to anti-terrorism: A number of sections of the US national code are available to prosecuting crimes related to terrorism and terrorist organization. In a non-legal sense, terrorism means the use of violence and intimidation in the pursuit of political aims. [...]
[...] The company has to agree to give the documents asking by the AMF investigators. They ask people to come to do an interview, the investigators ask Mr. X about his position and the reason why he bought shares at this time and about his bank account. If it is the first time you are investing in shares. Once the investigation is closed, the report goes to the board. The board decides several things. Mainly, he may decide to close the case if he thinks nothing wrong was committed. [...]
[...] An example of circumstances where AMF has a role then the proceeding that AMF follows to sanction transactions. An Example of Circumstances Where AMF Has a Role The shares of the company are listed (côtés) PSE (Paris stock exchange). The profit the company has realized is much better than expected by the director. How will the market react? Many people will be interesting of buying the shares of the company. The price of the shares will rise. It's a matter of offer and demand. [...]
[...] They will take into account the volume of the transactions. For example, the analyst of the division will notice that usually on a daily basis 1,000 shares are bought and sold by investors but the week before its 50,000 shares which are trading. There are suspicious transactions, the analyst will be asking who is the finer beneficial. If these names and volumes are suspicious, a formal investigation will be open by the AMF. It will give you a lot of power to gather evidence. [...]
[...] The rapporteur is assisted by AMF department, and by a member of the enforcement committee division. When the appraisal phase is closed. The enforcement committee hears the rapporteur, the appointed member of his representative, the person concerned and the lawyer. The adversarial principle still applies, each one will give his point of view. The hearing is public in principle. In some case it's not national security, business secrecy. At this time Mr. X is not convicted now. It's often the case that parties ask enforcement committee that the hearing does not have to be public but it's a legal duty, so it has to be public. [...]
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