French financial regulator will not challenge UK delegation arrangements

Brussels still making changes

The Autorité des Marchés Financiers (AMF), the French financial regulator, has dispelled UK fund managers' fears of being cut off from European clients after confirming it will not seek changes to its delegation rules.

The AMF said it said it will not challenge delegation rules, which could have restricted UK fund managers serving overseas clients after the UK officially leaves the European Union. Natasha Cazenave, head of the AMF policy and international affairs directorate, said the AMF "values delegation arrangements" according to the FT. She said: "We do not question existing business models that rely on delegation. We have to work with what we have, she third-country framework, in the short-time remaining." She also stated media coverage suggesting France wanted to force investment managers ...