As an alternative to enforcement proceedings, the AMF is empowered to initiate a settlement procedure. Under current rules, the right to settle may be offered only in the case of a failure to meet professional obligations by market intermediaries, including investment firms or asset managers. In an interview dated May 22, 2014, AMF Secretary General Benoît de Juvigny promoted an expansion of the scope of the right to settle cases to include minor defaults in financial information or misselling of financial products.
Under the settlement procedure, the Board of the AMF sends a proposal to enter into negotiations.
If the settlement negotiations succeed, the settlement agreement is approved by the Board of the AMF and then ratified by the Enforcement Committee.
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