On 8 July 2021, French regulator Autorité des Marchés Financiers, or AMF, announced that it was proposing a sanction accompanied by a EUR 38 million fine on two entities of the Amundi group (EUR 30 million for Amundi Asset Management and EUR 8 million for Amundi Intermediation, the group's trading arm). The AMF pinpointed a series of transactions made on Euro Stoxx 50 Index constituents over the course of 2014 and 2015 by three former Amundi employees. According to the AMF, these employees conspired to execute transactions that benefited an open-end equity fund at the expense of an identical account managed on behalf of an institutional client. The atypical volume and repeated nature of the transactions caused clients a prejudice of EUR 48.1 million. The AMF highlighted that this was made possible by generalized failings in Amundi's control functions and noted that the transactions had resulted in market manipulation.
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