#2025-391Adaptations to EU Economic and Financial Law
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This French law aligns national financial, environmental, transport, health, and energy regulations with EU directives. It prohibits investment firms from receiving payments for directing order flows, mandates changes for transparent information sharing across EU markets, and enhances compliance for green bonds. Companies dealing with digital assets must also adhere to new requirements for managing and securing these assets.
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Key Changes
- Ban on investment firms receiving payment for order flows
- Increased transparency required for EU market information sharing
- Compliance enhancements for businesses dealing with digital assets
Obligations
What this law requires
Investment service providers must not receive any payment, commission, or non-monetary benefit from third parties for executing client orders or transmitting client orders to a third party for execution on a given execution venue
The Financial Markets Authority (AMF) must transmit information received under Article 26 of EU Regulation 600/2014 or Article L. 533-9 to: (1) the competent authority of the most liquid market in another EU/EEA member state, (2) authorities supervising issuing investment firms, (3) authorities supervising branches involved in the transaction, and (4) authorities supervising trading platforms used
Companies issuing green bonds must comply with EU Regulation 2023/2631 on European green bonds, including publication of mandatory information on official websites as required
The AMF must have surveillance and investigation powers as specified in Article 32 of EU Regulation 2017/1129 regarding prospectuses and Article 45 of EU Regulation 2023/2631 regarding green bond obligations
Issuers who have committed serious and repeated violations of Chapter II, Title II, or Articles 18-19 of EU Regulation 2023/2631 may be prohibited from issuing European green bonds for a period not exceeding one year following a new sanction procedure