Greater insight into the AMF certification exam, the AMF-ACPR report and ROSA

Greater insight into the AMF certification exam, the AMF-ACPR report and ROSA

Wed 17 May 2023

On 16 December 2022, the AMF published additional information[1] on its website about the AMF exam, more commonly known as the “AMF certification” exam, since it certifies only the entities that organise the exam, rather than the people who pass it.

The AMF lists the various functions within ISPs and FIAs that are covered by the exam. It also lists the current list of certified organisations and explains the differences between the AMF exam and the internal exam.

Lastly, the reader’s attention is drawn to the possibility of taking an optional module on green and responsible finance that complements the general AMF exam.

Monitoring and evaluation of the climate commitments made by Paris market players: publication of the third joint AMF-ACPR report

For the past three years, the ACPR and the AMF have been working together to publish an annual report on the commitments of French financial institutions to combating climate change and achieving carbon neutrality by 2050.

The studies resulting from this 3rd report, issued last October, include:

  • Analysis of the governance of these commitments
  • An assessment of the implementation of sectoral policies governing financing and investment in fossil fuels
  • Estimates of the exposure of actors to these sectors (coal, oil, gas).

The assessment in the conclusion remains mixed: many previous recommendations are still pertinent, and new ones can be identified too.

Overall, to meet the obligations arising from the regulations currently being applied and those to come (Article 29 of the Energy-Climate Law, SFDR, RTS, etc.), the authorities call on the financial institutions of the financial centre to strengthen the work undertaken and the transparency surrounding the implementation of voluntary commitments.

ROSA – Postponement of the product base changeover date

On 11 January 2021, the Repository of Undertakings, Companies and Other Third Parties (better known as ROSA) was deployed on the AMF website to permanently replace the GECO product database.

The final switchover of the GECO product database, initially scheduled for the end of 2022, has been postponed and should now take place in the third quarter of 2023.

[1] Policy documents concerned: AMF Instructions DOC-2021-03, 2010-09 and Position DOC-2009-29