On 29 June 2012, AMF Chairman Jean-Pierre Jouyet presented the AMF’s 2011 activity report to thepress and reviewed the regulator’s three priorities for the future.
I. Key issues and priorities
During his speech, Jean-Pierre Jouyet set out three priority areas of focus hinging around the following:
Corporate governance
The AMF believes that regulatory arrangements in this area to some extent lag behind European and international best practice. Areas of focus include, in particular, the need to review legislation on public offerings to ensure that minority shareholders are afforded the best possible protection. The AMF also believes that the process of drawing up corporate governance codes should be widened to include both investors and listed companies so that market-wide consensus can be achieved. Finally, there is a need to look at strengthening the powers available to shareholders at general meetings, and in particular shareholders’ right to be informed of the details of executive compensation, thus bringing France into linewith European best practice.
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