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AMFs main priorities for asset management regulation in 2008 will not be affected from the financial market turmoil, Gérard Rameix, AMF General Secretary said in his opening remarks to the 5th Asset Management letter.
In 2008 the AMF intends to implement amended regulations and procedures for small investment management companies. AMF will also make greater use of new regulatory tools by publishing summaries of best practices.
“This will help market participants gain a better practical understanding of how to apply the regulations, especially when assessing implementation of new MiFID-related measures. At the international level, we will continue our work as part of IOSCO and CESR, especially on the reform of the simplified prospectus.”
“We will also promote the search for new synergies in the single European market by discussing the future of the UCITS Directive and continuing to support the extension of the European passport for fund management activities. In doing so, we will carry on defending a regulatory model that strikes an adequate balance between keeping the asset management industry competitive, opening it up to a harmonised, integrated European market, and maintaining a high level of investor protection.”