Policy III - Providers Sound remuneration policies under the UCITS Directive 

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The AMF is applying ESMA guidelines on remuneration policies for portfolio management companies under the UCITS Directive (ESMA/2016/575). The AMF is incorporating these guidelines into a position that makes certain clarifications to prevent poorly designed remuneration structures from adversely affecting risk management and control. Some of the provisions apply in a manner appropriate to the fund manager’s size and organisation, as well as to the nature, scope and complexity of the fund manager’s business.

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