Through update of its recommended position DOC-2006-23 concerning the regime applicable to financial investment advisors (CIF), the Financial Market Authority (AMF) has indicated notably that:

• A CIF should not accumulate its status with that of a related agent;

• Within the framework of the same service, a CIF may not be involved in the regime of banking or financial canvassing for a producer and under the regime of financial investment consultancy.

This update takes due account of various modifications in regulations recently having been passed in this area. Implementation of these positions should be undertaken as soon as possible and by the latest six months after publication of the recommended position.