July 21, 2022 at 10:54 pm.
Already signed in 2011 a partnership agreement on communication in the financial services sector, the Financial Markets Authority (AMF) and the Professional Advertising Regulation Authority (ARPP) announce the signing of an amendment to it, extending to the new area of crypto-resources. This document “includes, for example, digital assets and digital asset services for which AMF will be able to provide its expertise,” according to a press release.
Launching a joint work program
In the process, the two bodies are developing a joint program of work for 2022–2023. Among the “priority” projects is the creation of an ARPP advisory for its members on communications regarding digital assets and token offerings, as well as updating general communications guidelines regarding products and financial or investment services. This will include, among other things, the provisions of the AMF doctrine on communication in sustainable finance.
Section dedicated to influencers
It is also planned to update the ARPP recommendations on communications related to leveraged financial contracts (Forex, binary options) and atypical investments (various commodities such as wines, precious metals, etc.). The program also has a section dedicated to social media influencers in the investment industry. “ARPP will share its knowledge of practices and trends derived from, among other things, its Responsible Influence Observatory, while AMF will share its experience in the financial products and investment services sector, as well as current texts,” the two authorities point out. As such, they envisage the creation of a “special module” for the financial sector of the Certificate of Responsible Influence, launched in 2021 by ARPP, with the aim of presenting in an educational form the best practices and rules that apply in this area. (clear, precise and non-misleading communication, in particular about risks, an indication of the compensatory nature of the publication or possible conflicts of interest, etc.).