The Autorité des Marches Financiers (AMF) is launching a public consultation, running until 31 January 2011, on the modifications to some of the provisions in its General Regulation.
The intermediation in miscellaneous property system concerns two types of transactions:
- proposals in the form of advertising and direct marketing inviting individuals to subscribe to life annuities or to acquire titles to movable or immovable property where the acquirers do not manage said property themselves or where the contract offers a buy-back or exchange option with revaluation of the capital invested(1). These proposals (hereinafter “miscellaneous property 1”) are subject to ex ante control by the AMF;
- the other proposals (hereinafter “miscellaneous property 2”) concern the acquisition of titles to one or more properties and highlight the possibility of direct or indirect financial returns or a similar economic effect(2). Advertising for these proposals has thus far been subject to ex post control by the AMF.
Read more on the matter here.