meta_id 3286849

On June 30, 2026, the Autorité des Marchés Financiers (AMF) Enforcement Committee announced sanctions against Bourse Direct, an investment services provider, and its director, Catherine Nini. The Committee imposed a fine of €800,000 on Bourse Direct and €50,000 on Nini following a decision issued on June 23, 2026. The Enforcement Committee found that Bourse Direct failed to report transactions to the AMF between January 1, 2021, and November 30, 2023. Specifically, the firm did not report transactions carried out by its trading desk and those executed on behalf of a bank's clients, representing 0.58 percent of all transactions during the inspection period. Additionally, Bourse Direct submitted transaction reports containing a significant number of incorrect Trading Venue Transaction Identification Codes to the AMF. The Committee determined that Bourse Direct's system for monitoring and detecting market abuse was ineffective. The system failed to generate alerts where grounds existed to suspect that a client possessing inside information might sell securities to avoid losses. The monitoring system also did not adequately account for current financial and economic developments or the sensitive status of certain clients. The Committee noted that Bourse Direct had not conducted regular assessments of its market abuse detection system and had not updated it despite identifying that an update was necessary. The Enforcement Committee attributed these breaches to director Catherine Nini. The AMF Enforcement Committee, composed of judges and professionals with decision-making independence, can impose sanctions on persons or companies whose practices contravene laws and regulations within its jurisdiction. An appeal may be lodged against this decision.