A brief update on the new financial communication rules that apply to listed companies

Frank Martin Laprade

In a recent publication, posted on the AMF website, its Chairman, Robert Ophèle, made a significant contribution to the debate on stock market activism. It was then specified that this “contribution” had not been the subject of a decision by the AMF Board and that it was therefore not binding on the Authority (legal entity), so that it could not be invoked in accordance with the case law of the Conseil d’Etat, which established the enforceability of the AMF’s (official) doctrine1. This is regrettable, because it confirms in black and white the confirmation of one of our intuitions regarding the upheaval caused by the MAR Regulation.

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