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AMF And ACP Academic Symposium: “The Consequences Of The Financial Crisis On Household Savings And Distribution Of Financial Products”

Date 16/05/2012

Savings and retail investment are essential to the effective working of the economy and are, more thanever before, central to the preoccupations of all the actors on financial markets, especially at a time when banking and insurance players are under pressure from major prudential reforms. Against this backdrop, the AMF and ACP decided to dedicate their academic symposium to the consequences of the financial crisis on household savings and distribution of financial products.

At the conference, Christian Noyer, Governor of the Banque de France and ACP Chairman, stressed “the shared determination of the two authorities to place the interests of clients at the centre of the regulation system governing the different financial products. Since the creation of the ACP two years ago, the ACPand AMF have united their efforts to enhance consumer protection sustainably.”Jean-Pierre Jouyet, Chairman of the Autorité des Marchés Financiers, also pointed out that: “Protecting retail investment is the primary mission of the AMF and the question of financial product distribution is therefore an inescapable issue. However, regulation issues aside, the question must also be raised of the fiscal policy currently in force on retail investment, which may not be quite up to the demands of financing our economy.”

The seminar benefited from the expertise of personalities from the academic world, the regulation authorities and the finance industry, and was organised around two sessions:- the first dedicated to the consequences of the financial crisis on allocation of household portfolios;- the second focused on the issues of financial product distribution in a post-crisis context and on the needs of long-term savings.Finally, the concluding round-table discussion addressed the role of regulation in allocation of household savings and distribution of financial products.

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The AMF Scientific Advisory Board is composed of 20 personalities from the academic and financial worlds. The Board is very much outward looking, thanks to the presence of internationally-renowned foreign researchers, and has a threefold purpose:

  • keep the regulator better informed of current academic thinking in the financial field;
  • identify trends that are likely to have an impact on the areas of activity of the AMF;
  • initiate research work relating to the preoccupations of the regulator.

The ACP Scientific Committee composed of 11 personalities from the academic and financial worlds has the objective of fostering synergies between research and supervision in the financial field and identifying the trends likely to have an impact on the activities of the banking and insurance sectors.

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