The stock market policeman had a heavy hand in 2021

Posted on Dec 28, 2019 2021 at 14:55Updated 28 Dec. 2021 at 15:31

The bill is steep this year for those who have had to appear before the judge of the Autorité des marchés financiers (AMF). The latter pronounced a little more than 60 million euros in financial penalties, unprecedented. In 2020, that figure was twice as low. The various confinements had obviously slowed down the activity of the sanctions commission which was able to resume at a more normal pace this year, with 18 decisions rendered.

But this difference is mainly explained by an “extraordinary” conviction. Last August, the AMF judge pronounced a cumulative amount of fines of 37 million euros against Amundi and two of its former employees, and against the broker Tullet Prebon (known as TP Icap since its merger with Icap in 2015). A record. Amundi, was sentenced for price manipulation on the future Euro Stoxx 50 in 2014 and 2015, and for having harmed the interests of clients. Until then, it was Natixis AM which held the prize for the highest sanction, ie 35 million euros, since reduced to 20 million by the Council of State.

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