AMF sanctions asset manager and two directors for professional breaches
The AMF Sanctions Commission sanctioned a portfolio management company and two of its directors for professional obligation breaches, clearing two other directors.
The decision demonstrates AMF's willingness to differentiate individual liability among senior managers, sanctioning some while exonerating others. Portfolio managers should verify that responsibilities, delegations and evidence of oversight are clearly documented per role.
Signals continued AMF focus on portfolio management conduct and individual accountability, driving personal liability risk for named directors.
Action Required
Benchmark asset management governance, compliance and control frameworks against AMF findings and reassess director accountability records.
Enforcement outcomes at SGP level with differentiated director liability are directly relevant to governance and conduct risk frameworks.
Update SGP governance mapping; ensure delegations and oversight evidence are documented at director level. Test compliance monitoring plan against AMF themes.
“The AMF Sanctions Commission sanctions a portfolio management company and two of its directors for breaches of professional obligations, and clears two other directors.”