The French trade bodies for financial analysts and investor relations professionals have created a common charter designed to improve transparency between analysts and issuers.

The Société Française des Analystes Financiers (SFAF), the French association for financial analysts, and the Cercle de Liaison des Informateurs Financiers en France (CLIFF), the French trade body for investor relations professionals, have updated recommendations set out in a previous charter published in 1993 to address the deterioration in investor confidence in the wake of scandals such as Enron.