AMF
Non bis in idem and AMF sanctions: combining criminal and administrative proceedings
By Raphaël MORENON10 June 2025The legal principle that no one can be tried or punished twice for the same acts, known as "ne bis in idem", is a fundamental guarantee in our legal system. It protects individuals from being punished twice for the same behaviour. However, its application in the financial markets, particularly in the face of the sanctioning powers of the Autorité des Marchés Financiers (AMF), has undergone a complex evolution with many twists and turns. Understanding this dynamic is essential for anyone faced with an investigation or prosecution, whether administrative or criminal. Our firm has observed that this often subtle interplay can have a decisive impact on the course of proceedings and the defence strategy to be adopted. For an overview of the AMF's powers, our comprehensive guide to the AMF's sanctioning powers provides valuable clarification. Discover our complete reference guide to the AMF...
Appealing AMF sanctions: understanding judicial review and appeal procedures
AMF, Banking and securities lawFor a complete overview of the AMF's remit, sanction categories and enforcement procedures, please consult our comprehensive guide to the AMF's sanctioning powers. When the Autorité des Marchés Financiers (AMF) issues a sanction decision, it is legitimate to ask what avenues are available to...AMF sanction procedure: deciphering the key stages for professionals
AMF, Banking and securities lawThe sanction procedure of the Autorité des marchés financiers (AMF) is a major issue for professionals in the financial sector. The AMF has extensive powers to ensure that markets operate smoothly, that savings are protected and that investors are properly informed, whether they are natural persons or legal entities. To find out more...AMF sanctions: distinction and scope of administrative and disciplinary powers
AMF, Banking and securities lawThe French financial sector is a complex ecosystem, whose stability and investor protection are ensured by one major player: the Autorité des marchés financiers (AMF). This independent public body has extensive powers to regulate markets, supervise professionals and, where necessary, impose penalties.The AMF's sanctioning powers: a comprehensive guide for financial market participants
AMF, Banking and securities lawThe Autorité des marchés financiers (AMF) plays a key role in regulating France's financial markets. Its mission is to protect investors' savings, provide them with transparent information and ensure the smooth operation of these markets. To achieve these objectives, the AMF has the power to impose sanctions...
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