AMF Sanctions Portfolio Management Company and Former Director €500,000
On 10 December 2025, the AMF Enforcement Committee fined Novaxia Investissement €400,000 and its former director Joachim Azan €100,000 for breaches of professional obligations, including inadequate investment procedures, conflicts of interest, lack of transparency on distributor fees, and failings in client categorisation and anti-money laundering. The decision is subject to appeal.
Related updates
The AMF is warning professionals about an ongoing campaign of fraudulent emails
The French AMF has warned professionals about an ongoing phishing campaign using its identity. The fraudulent emails invite recipients to take action or sign documents, despite not originating from the regulator. Organisations should remain vigilant and verify suspicious regulatory communications through official channels.
01 Sep 2026
The AMF now publishes executive disclosures in French and English
AMF makes managers' transaction declarations available in French and English: The AMF will now publish managers' transactions declarations in both French and English, improving access to market transparency information for international investors and stakeholders.
28 Aug 2026
AMF Warns Investors of Fake News Articles Promoting Fraudulent Trading Platform BitKeltTrade
The French AMF has issued a public warning about a surge in fake news websites impersonating major French media outlets and public figures to promote an unlicensed trading platform, BitKeltTrade. The regulator has blacklisted bitkelttrade.com and several lookalike domains, and urges investors not to respond or share their contact details.
19 Aug 2026