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AFEI responded to an AMF consultation last autumn on a proposal to open a segment of the regulated market reserved for professional investors (AFEI / 07-51). Despite supporting the proposal wholeheartedly from the outset, AFEI noted that it highlighted some constraints inherent in the French system of public offerings of securities. In light of the context created by the Prospectus Directive, these restrictions are distorting competition to the detriment of French issuers. |
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