AFIC’S MAIN TASKS
- Representation : AFIC unites and represents all of the component parts of the private equity industry with regard to its environment and more particularly the authorities, government, parliament, administration, and the regulatory body (AMF).
- Monitoring : AFIC ensures that its members apply the Code of Ethics approved by AMF.
- Economic analysis : AFIC regularly publishes information about the economic situation and provides statistics and reference studies concerning the private equity industry. Its studies, information sheets, and analyses are designed for its governance and analytical bodies as well as its members, the authorities,
investors, entrepreneurs and the media. AFIC also contributes to the process of coordinating the data of international private equity not-for-profit organisations, and publishes ad hoc information and research upon request.
Legal and fiscal watch : AFIC tracks developments within the legal and fiscal framework in which the profession operates and reports them to its members.
Training : AFIC Formation (Training), an approved organisation, has a comprehensive range of training courses covering private equity, M&A, Finance and Law intended for AFIC members and
non-members alike. Over 1,000 trainees are trained every year during 150 sessions. All the courses are eligible for DIF (Individual Right to Training) financing.
Promotion : AFIC organises various events designed to unite the different component parts of the profession.
THE ASSOCIATION : GUARANTOR OF THE PROFESSION’S GOOD PRACTICES
The AFIC members must respect the Code of Ethics approved by the AMF.
Independent of the Board of Directors, the Ethics Committee is the body called upon to adjudicate any failure to respect the Code of Ethics by a member when so requested by any party (member or non-member), Sanctions can go as far as excluding a member. Furthermore, AFIC strives to contribute to the improvement
of the governance of companies. In 2008, AFIC put into place a Charter for Capital Investors, signed by over 200 of its members. The undertakings of the Charter place employee-shareholding and good governance of the companies receiving investment at the centre of shareholders’ concerns. Eager to ensure the responsible conduct of its members in the transactions they undertake, AFIC has moreover favoured thedevelopment and circulation of new recommendations :
> The guide to good practices in Venture Capital
> Good practices for dealing with companies experiencing difficulties
> Sustainable Development and Private equity
THE PRIVATE EQUITY WHITE PAPER
AFIC published the Private equity White Paper called, “Renforçons nos PME-ETI” (Reinforcing our SMEs and Medium-Sized Companies) in April 2012, setting out ten proposals it considers essential for the development of growth and employment in SMEs and Medium-Sized Companies in France, and for + the country’s economic competitiveness.