AMF SPOT findings: compliance role at investment firms.

On 20 January 2026, the Autorité des marchés financiers (AMF) published findings from a series of “SPOT” (Operational and Thematic Supervision of Practices) inspections examining the role and involvement of the compliance function in cross-functional processes at four investment services providers engaged in financing and investment banking activities, all belonging to large international banking groups. The review covers areas commonly coordinated by Human Resources, including regulatory training, remuneration policy, disciplinary measures, and the monitoring of employees’ personal transactions.

The AMF found that compliance involvement was not consistent across institutions. It observed that compliance is generally well positioned on disciplinary measures and plays a key role in pre-approving personal transactions (and, in most cases, conducting a posteriori checks), but it highlighted a notable weakness in remuneration oversight: at three of the four providers, compliance had restricted access to key data on variable remuneration, which can lead to erroneous conclusions about the adequacy of remuneration-related compliance checks. The AMF also listed good and poor practices and noted that this SPOT analysis will be followed by a second part focusing on other market participants while addressing similar themes.

Source: The AMF publishes the findings of its inspections on the role and involvement of the compliance function at investment services providers | AMF