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Regulation

Position/Recommendation supplementing Position 2013-02 on collecting know-your-client information

Relevant on January 3, 2018

The AMF is supplementing its Position DOC-2013-02 on collecting know-your client information in a Position/Recommendation dedicated to the risks brought about by the digitisation of relationships between the service provider and its client for the provision of investment services.

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Procedure for marketing units or shares of AIFs

Relevant on September 25, 2017

Instruction DOC-2014-03 describes the procedure for marketing AIFs in France. It also specifies the procedure for marketing in another European Union Member State of AIFs managed by a French asset management company authorised under the AIFM Directive.

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Guide to the organisation of the risk management system within asset management companies

Relevant on June 20, 2017

The DOC-2014-06 recommendation details the expectations of the AMF for the operation and organisation of compliance, risk management, internal monitoring and periodic control functions within asset management companies (AMC). This guide specifies, notably, how different control functions should be structured and is aimed at AMCs that manage UCITS or AIFs and/or that provide a discretionary portfolio management service.

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Programme of operations guide for asset management companies and self-managed collective investments

Relevant on June 20, 2017

The position-recommandation DOC-2012-19 outlines how to complete the sections of the autorization application (including the program of operations) and complementary sheets. In particular it provides specific instructions on the “four eyes” (quatre yeux) rule, access to (information on) the position of the market member, the credit analysis, delegation and outsourcing, the practice of cash pooling (centralised treasury management authorised provided that certain conditions are met) as well as on internal control procedures.

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Risk management organisation for collective investment undertaking management activities and discretionary portfolio management investment services

Relevant on June 20, 2017

Collective investment undertaking management activities and discretionary portfolio management investment services are subject to specific risk management organisation rules (counterparty, liquidity and market risks and operational risk). The instruction DOC-2012-01 defines the permanent risk management function, the procedures for delegation to third parties and risk management policy and procedures (measurement, supervision, documentation and filing).

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Legal information
Head of publications: Florence Gaubert, Executive Director of AMF Communication Directorate.
Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02