France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), today appointed Robert Ophèle as its newest chairman, succeeding Gérard Rameix, who held this position since August 2012. Robert was appointed by the French president Emmanuel Macron to serve as chair for a non-renewable five-year term.
Mr. Ophèle previously served as Second Deputy Governor of the Banque de France, since 2012, where he represented François Villeroy as Chairman of the Autorité de contrôle prudentiel et de resolution.
Mr. Ophèle, who is a graduate of the ESSEC business school, began his career with Banque de France in 1981 where he originally spent three years in banking supervision. He subsequently focused on the academic studies, holding the position of Economist at the Monetary Studies and Statistics Directorate.
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Following a short secondment to the US Federal Reserve, Mr. Ophèle returned to the France’s central bank and was then appointed as Head of the Budget Division, and was subsequently promoted to Director of the Management Control and Budget Directorate.
The AMF’s mandate is to protect investors from unfair and fraudulent practices through regulation of the securities industry.
The French watchdog has been quite active lately in policing retail trading activities, and in addition to its periodic warnings the AMF announced back in January that France has introduced a ban on the online advertisement of forex and binary options products in the country.