'Exchange Transactions Commission'), was established in 1967 as part of the financial reform package promoted by Finance Minister Michel Debré.

In 2003, the COB merged with the Conseil des Marchés Financiers (CMF, lit.

Shareholders are required to notify their holdings to the AMF when their stake exceeds or falls below certain thresholds.

According to the act of 26 July 2005, the lowest disclosure threshold is 5% (article l. 233-7 of the commercial code).

[3] In July 2012, after Jacques Delmas-Marsalet took on the interim presidency of the AMF, the competent parliamentary committees gave the green light to the appointment of Gérard Rameix as head of the AMF, replacing Jean-Pierre Jouyet.