Michel Prada, Chairman of the Autorité des marchés financiers (AMF), reminds market participants that, pursuant to the rules applicable in Paris, any seller of securities on the regulated market is required to deliver those securities within three days.
In the current period, where it is paramount that speculative movements should not prevent the markets from returning to an even keel, the AMF will be extremely vigilant and stringent as regards compliance with those rules. In that regard, the AMF reminds participants that several months ago, the AMF Board sent statement of complaint to an investment services provider suspected of having sold securities without being in a position to deliver them on time.
The AMF is also consulting with the other euro-zone market regulators regarding the provisions applicable to these transactions.
