Twelve joint missions were conducted in entities distributing life insurance contracts and financial products; the common actions also concerned operators offering leveraged transactions on the Forex market and the processing of complaints throughout the financial sector. In 2012, joint missions will continue to focus on the different players involved in the marketing of insurance contracts, particularly among portfolio management companies, banks and distribution platforms. This joint work proves, if proof is needed, the shared determination of the two authorities to place consumer interests at the heart of the regulatory framework governing different financial products. Indeed, by their very nature, certain subject areas automatically imply collaboration between the two bodies. This is the case for example of household savings. While the financial markets are a natural target for these savings, in the vast majority of cases, retail investors can only access these markets via the services offered by financial institutions and insurance entities. The crisis we have experienced these last four years has had a profound impact on the economy of our country and of the world, affecting as much the financial markets, banks and insurance companies as the savings behaviour of households. To understand the changes that the crisis has induced and to take appropriate action in the best conditions, the ACP and the AMF need to work together and be attentive to the views of experts and practitioners.
This will be the theme of the round table in the third session that will close this symposium. *** I thank you for your attention and hand the floor to Antoine Frachot who will assume the role of moderator for the first session. BIS central bankers’ speeches  3