AMF France v. Dylan Dariah (false or misleading information, 2022)

Settled

✓ Checked against the primary document on October 5, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the French decision; an independent second reading of 60 of the AMF records agreed on every field for 54 and on the core fields for 59. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In April 2022 the AMF agreed a settlement with Dylan Dariah over two false major-shareholding notices filed in May 2021 for a company that held no Atos shares; he agreed to pay EUR 800 in instalments.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

—

Alleged gain

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Penalty as published

€800

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in EUR. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The AMF published an administrative settlement (accord de composition administrative) with Dylan Dariah, dated 27 April 2022. This is not a contested sanctions hearing. The agreement took effect only once the AMF Collège validated it and the Commission des sanctions homologated it; the document gives the signing date but not the homologation date, so the signing date is used here.

The AMF opened an investigation into Atos shares in May 2021. Mr Dariah was the head and sole shareholder of Finsur Corp, a Delaware company. The AMF said that on 17 May 2021 he filed, in the name of another person at Finsur, a notice that it had crossed 5% of Atos by buying 5,590,010 shares, and on 21 May a second notice that it had fallen back below 5%.

The AMF published both notices on its site. Investigations showed Finsur held no Atos shares and had traded none, and the AMF said he knew the declarations were inaccurate. It added that they did not appear to have affected the price, but could amount to false information on supply, demand or price.

The grievance was market manipulation by false information. He did not contest the facts and agreed to pay EUR 800 to the Treasury in eight monthly instalments. This is not a wash-trading case: no trading was alleged.

What the record does not show: the agreement describes conduct that the person "could" or "would" have committed, so it records allegations and undertakings, not a finding of breach, and it is not styled as a fine. It does not show whether any later challenge occurred.

This library tags the matter as false or misleading information (no matching technique page). The tagging is ours, not the regulator's.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the decision.

Timeline

1. 2022-04-27 Settlement agreed (homologated by the Commission des sanctions)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• AMF settlement page
• Settlement (PDF, French)

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Record added October 5, 2026. submit a correction.