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Book III - Service providers
Title I bis - Asset management companies of AIFs
Chapter I - Procedures for authorisation, programme of operations and passport
Section 1 - Authorisation and programme of operations
Sub-section 2 - Withdrawal of authorisation and deregistration
Article 316-7 from 14/08/2013 to 04/07/2018

Article 316-7 into force from to

  • Version into force from to
ELI : /en/eli/fr/aai/amf/rg/article/316-7/20130814/notes

When the AMF decides to withdraw an authorisation, the company concerned shall be notified of the AMF's decision by registered letter with acknowledgement of receipt. The AMF shall inform the public of the withdrawal by inserting notices in newspapers or other publications of its choosing.

The decision shall specify the timetable and method for carrying out the withdrawal. During this period, the company shall be put under the supervision of an administrator appointed by the AMF on the basis of his or her skills. The administrator shall be bound by the obligation of professional secrecy. If he or she manages another company, said company may not acquire the clientele directly or indirectly.

During this period, the company may make only such transactions as are strictly necessary to protect the interests of the unit or shareholders of the AIFs. It shall inform the depositary or depositaries of the withdrawal. For common funds (FCPs), the AMF shall invite the depositaries to appoint another asset management company. For employee investment funds (FCPEs), this appointment shall be subject to ratification by the supervisory board of each fund.

The AMF informs the European Securities and Markets Authority on a quarterly basis of the authorisations it has withdrawn under the terms of the present article.