French Monetary and Financial Code
In forceI. - The AMF Ombudsman is appointed by the AMF Chairman on the advice of the AMF Board for a renewable term of three years.
The Ombudsman is empowered to receive complaints from any interested party that fall within the remit of the Autorité des marchés financiers and to take appropriate action.
It carries out its mediation role with regard to consumers under the conditions laid down in Title I of Book VI of the Consumer Code.
Referral to the AMF Ombudsman suspends the limitation period for civil and administrative proceedings from the date of referral to the Ombudsman. Pursuant to article 2238 of the French Civil Code, the statute of limitations shall begin to run again for a period of not less than six months if the AMF Ombudsman declares the mediation to be terminated.
The AMF Ombudsman cooperates with his foreign counterparts in the out-of-court settlement of cross-border disputes.
He shall publish an annual report on his work.
II. - The AMF may make proposals to amend laws and regulations concerning the information provided to holders of financial instruments and the public, the markets in financial instruments, units referred to in Article L. 229-7 of the Environmental Code, and assets referred to in II of Article L. 421-1 of this Code, and the status of investment services providers.
Each year, it draws up a report for the President of the Republic and Parliament, which is published in the Journal officiel de la République française. This report presents, in particular, developments in the European Union regulatory framework applicable to financial markets and reviews cooperation with regulatory authorities in the European Union and other Member States.
