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to be undertaken by staff of the AMF. 16 31. However, the CCAF’s independence could be further enhanced by removing the mandate of the Commissaire du Gouvernement to attend CCAF meetings . The Commissaire attends CCAF meetings “in an advisory capacity.” 17 Although the Monegasque authorities noted that the Commissaire has mainly the function of keeping the CCAF members informed about the government’s general policies, in the view of the mission his/her presence may give the government an opportunity to influence CCAF operational decisions such as licensing and