French financial regulator will not challenge UK delegation arrangements

Brussels still making changes

Jayna Rana
clock • 1 min read

The Autorité des Marchés Financiers (AMF), the French financial regulator, has dispelled UK fund managers' fears of being cut off from European clients after confirming it will not seek changes to its delegation rules.

The AMF said it said it will not challenge delegation rules, which could have restricted UK fund managers serving overseas clients after the UK officially leaves the European Union. Natasha Cazenave, head of the AMF policy and international affairs directorate, said the AMF "values delegation arrangements" according to the FT. She said: "We do not question existing business models that rely on delegation. We have to work with what we have, she third-country framework, in the short-time remaining." She also stated media coverage suggesting France wanted to force investment managers ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Regulation

A review of the senior managers regime is also on the table, which would lead to an evolution in the regulations rather than an overhaul. | Credit: iStock

UK to boost bank resolution toolkit after SVB collapse shortcomings - reports

City minister Bim Afolami

Cristian Angeloni
clock 08 December 2023 • 1 min read
The FCA noted that the proposals were high-level at this stage, not definitive and reflected early thinking. The regulator said they would evolve based on stakeholder feedback and further engagement.

FCA plans 'new form of simplified advice' in extensive review

Three proposals set as part of major review

Isabel Baxter
clock 08 December 2023 • 6 min read
The NAO highlighted that, although the FCA had required crypto firms to comply with anti-money laundering regulations in January 2020, the regulator did not take any enforcement action against illegal crypto operators until February 2023.

National Audit Office finds 'significant delay' in FCA regulatory action

Financial services report

Cristian Angeloni
clock 08 December 2023 • 3 min read