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Lack of secure archive and other failings lead to fine for investment adviser in France

The Eiffel tower overlooks Paris's Beaugrenelle commercial district.
The Eiffel tower overlooks Paris’s Beaugrenelle commercial district. Photo: Frédéric Soltan/Corbis via Getty Images

Hameed Shuja

1 min read
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Carat GP and its two directors have incurred a fine of €2.5m. The firm and one of its directors have also been barred by the AMF.

France’s top financial regulator the AMF has found that investment advisory firm Carat GP, and two of its directors, failed to comply with their professional obligations in relation to:

  • required documentation;
  • product governance;
  • conflicts of interest;
  • complaints handling; and
  • anti-money-laundering and counter-terrorist financing (AML/CFT).

The firm’s alleged failings also

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