The Autorité des marchés financiers (AMF) has imposed a fine of 150,000 euros on the chairman and CEO of Audit Patrimoine Conseil, Serge Monin.

The sanction is accompanied by a ten-year ban on the practice of financial investment consulting. The AMF criticizes the company for having failed to conduct its business "with the competence, care and diligence required in the best interests of its clients by marketing alternative investment funds that could not be marketed in France", for not having "taken the necessary steps to ensure that the company's activities were carried out with the utmost care and diligence", and for not having "taken the necessary steps to ensure that the company's activities were carried out with the utmost care and diligence".It also failed to put in place sufficient measures to combat money laundering and terrorism, and to collect information on the nature and purpose of the relationship between the company and its clients.