TITLE: France's Financial Markets Authority Fines Financial Investment Advisor and Directors for Professional Obligation Breaches
BODY:
On April 7, 2026, the Autorité des marchés financiers (AMF) Enforcement Committee announced sanctions against Kerdiz Finance et Conseil, a financial investment advisor, and its directors Anthony Finck and Marc Peuvrier. The decision, issued on April 1, 2026, imposed a €300,000 fine on the company and €75,000 fines on each director for breaches of professional obligations committed between January 1, 2020 and June 28, 2023. The sanctions include a five-year temporary ban on exercising financial investment advisor activities.
The Enforcement Committee found that Kerdiz Finance et Conseil falsely presented itself as an entity authorised as an investment services provider and inaccurately claimed to have obtained AMF authorisation to market Vivat Multitalent securities. The company failed to adequately identify and manage conflicts of interest relating to its commercial and ownership ties with the Vivat Multitalent group. It did not implement required product governance procedures to protect investors and failed to collect necessary information about distributed products. The committee also determined that Kerdiz Finance et Conseil marketed securities issued by Multitalent AG, Multitalent II AG, Multitalent III AG, and Multitalent Investment GmbH without verifying that asset management companies and depositaries had been appointed, and marketed securities whose distribution in France was prohibited. Additionally, the company conducted direct marketing for the Guyane Agricole offer without appropriate risk disclosures and failed to fulfil anti-money laundering and counter-terrorism financing obligations.
The Enforcement Committee attributed all breaches to both directors, except those not notified to Finck. An appeal may be lodged against this decision.
REFERENCE:
Autorité des marchés financiers. "The AMF Enforcement Committee fines a financial investment advisor and its directors for breaches of their professional obligations." April 7, 2026. https://www.amf-france.org/en/news-publications/news/amf-enforcement-committee-fines-financial-investment-advisor-and-its-directors-breaches-their