Eligibility of UK equities for French plan d’épargne en actions if Hard Brexit -
In February, France passed an ordinance (the “Ordinance”) relating to the consequences of a no-deal Brexit. Article 4 provides the rules...more
4/9/2019
/ AMF ,
Asset Management ,
CNIL ,
EU ,
France ,
General Data Protection Regulation (GDPR) ,
Investment Funds ,
Management Companies ,
No-Deal Brexit ,
UCIs ,
UCITS ,
UK Brexit
Implementation of AMF position 2019-03 on "certain aspects of the MiFID II adequacy requirements" -
The AMF position DOC-2019-03 incorporates the ESMA guidance on "certain aspects of the MiFID II adequacy requirements"...more
3/11/2019
/ AFG ,
AMF ,
Asset Management ,
Corporate Governance ,
Distribution Rules ,
EU ,
European Securities and Markets Authority (ESMA) ,
FATCA ,
France ,
General Data Protection Regulation (GDPR) ,
Investment Funds ,
MiFID II
Money Market Funds -
The AMF published a guide describing the main impacts of the application of the MMF Regulation, as well as the details of the authorization procedures specific to such money market funds, notably...more
2/4/2019
/ AMF ,
Asset Management ,
Capital Gains ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
France ,
Investment Funds ,
Money Market Funds ,
Private Equity ,
Tax Code ,
Tax-Deferred Exchanges ,
Whistleblowers
Publication of decrees amending the regime of French direct lending funds -
The Ordinance n° 2017-1432 of 4 October 2017 introduced the possibility for "financing vehicles" (organismes de financement, OF) to grant loans....more
12/6/2018
/ Amended Rules ,
AMF ,
Asset Management ,
CSDR ,
Direct Lending ,
EU ,
France ,
Fund Management Companies ,
Income Taxes ,
Investment Funds ,
MiFID II ,
Securities
Monitoring of promotional documentation: the AMF changes its approach regarding various financial products for private individuals -
The Autorité des Marchés Financiers (the AMF, the French financial markets authority)...more
11/8/2018
/ Advertising ,
AIFs ,
AMF ,
Asset Management ,
Client Data ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Products ,
France ,
Investment Funds ,
MiFID II ,
MiFIR ,
Portfolio Managers ,
Private Funds ,
Promotional Items ,
UCITS
AFG issues template of PRIIPs KID for French Société Civile de Placement Immobilier -
The Association Française de la Gestion Financière ("AFG") published for the benefit of its members a template of the PRIIPs Key...more
The International Swaps and Derivatives Association ("ISDA") has published two new ISDA Master Agreements in a Brexit prompted update for the European OTC Derivatives market.
What has happened?
On 28 June 2018, new...more
AMF publishes Q&A concerning money market funds ("MMF") -
In time for MMF Regulations’ entry coming into force on 21 July 2018, the Autorité des Marchés Financiers (the French financial markets regulator) issued a guide on...more
MiFID II update -
The Autorité des Marchés Financiers continues to update its doctrine following the entry into force of MiFID II. As a result, on 26 June, the AMF published updated versions of 14 of its positions,...more
7/5/2018
/ AIF ,
AMF ,
Asset Management ,
EU ,
European Securities and Markets Authority (ESMA) ,
France ,
Investment Funds ,
MiFID II ,
Money Market Funds ,
Stress Tests ,
UCITS
UCITS/AIFs’ Share Classes and Hedging -
Pursuant to the ESMA Opinion n° 34-43-296 relating to share classes of UCITS, the AMF updated its regulations and doctrine with respect to the hedging possible when a fund (or a...more
Proposals to make French funds more attractive for international marketing -
A working group set up by Euroclear France, Ailancy, professional associations and different actors of the asset management industry, presented...more
5/7/2018
/ AMF ,
Anti-Money Laundering ,
Asset Management ,
Beneficial Owner ,
Blockchain ,
EU ,
European Securities and Markets Authority (ESMA) ,
Foreign Investment ,
France ,
Investment Funds ,
Liquidity ,
MiFID II ,
UCITS
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s statement on the implementation period for Brexit; the requirement for firms...more
4/20/2018
/ Asset Management ,
BEPS ,
Corporate Taxes ,
Cross-Border ,
Cryptocurrency ,
Customer-Loyalty Programs ,
Cybersecurity ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
MiFID II ,
MiFIR ,
UK ,
UK Brexit
AMF Public Consultation on ICOs -
The AMF launched a public consultation on Initial Coin Offerings (ICOs) on 26 October 2017 in order to assess how these fundraisings could be regulated. Out of the three regulatory options...more
3/30/2018
/ AMF ,
Asset Management ,
Cryptocurrency ,
Derivatives ,
EMIR ,
EU ,
Financial Adviser ,
France ,
Initial Coin Offering (ICOs) ,
Investment Funds ,
MiFID II ,
Public Consultations ,
Publicly-Traded Companies
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s approach to authorisation; action taken on closet tracking funds; proposed EU...more
3/22/2018
/ Asset Management ,
Broker-Dealer ,
Collective Investment Schemes ,
Cross-Border Transactions ,
Distribution Rules ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Stability Board ,
Investment Funds ,
Member State ,
MiFID II ,
Surveys ,
UK
AMF Study on Fees Charged in 2015 by UCITS Distributed in France -
The Autorité des Marchés Financiers (the French financial regulator, AMF) conducted a study based on the fees disclosed in the KIID distributed to...more
Entry into force of MiFID II -
The Directive 2014/65/EU on Markets in Financial Instruments (MiFID II) entered into force in France on 3 January 2018. Within the framework, the French legal framework has been updated over...more
1/26/2018
/ AMF ,
Asset Management ,
Banks ,
Draft Ordinance ,
EU ,
Exemptions ,
Foreign Investment ,
France ,
Investment Funds ,
Loan Origination Funds ,
Management Companies ,
MiFID II ,
Monopolization ,
UK
AMF Priorities in the EMIR Review -
The Autorité des Marchés Financiers (the “AMF”, the French financial markets authority) published two position papers on 2 May 2017 relating to the EMIR review...more
6/26/2017
/ Amended Rules ,
AMF ,
Asset Management ,
Credit ,
Crowdfunding ,
EMIR ,
EU ,
France ,
Investment Funds ,
Liquidity Risk Management Rule ,
MiFID II ,
Open-Ended Fund Companies (OFCs) ,
Public Consultations ,
UCITS
AFG - Publication of a Public Position on RTS PRIIPs -
The Association Française de la Gestion Financière (the “AFG”, the French professional association of asset managers) published on 18 April, jointly with the French...more
5/1/2017
/ AFG ,
AMF ,
Asset Management ,
EU ,
France ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Pension Funds ,
Public Consultations ,
Retail Investors ,
UCITS
Significant Update of the General Regulations of the AMF ("GRAMF") -
The Arrêté of 27 February 2017 and published to the Official Journal on 7 March 2017 has amended significantly the General Regulations of the AMF (the...more
4/10/2017
/ AIF ,
AMF ,
Asset Management ,
Collective Investment Schemes ,
ETFs ,
EU ,
France ,
Investment Funds ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Risk Management ,
SICAV ,
UCITS
AMF - Update of the MiFID II guide for asset management companies -
The Autorité des Marchés Financiers (the “AMF”, the French financial markets authority) updated its MiFID II Guide for Asset Management Companies on 6...more
AMF Instructions Update - French "minibons" -
Pursuant to the implementation under French law of the “minibon” (a category of note which can be issued by certain type of French entities) which can be marketed by, among...more
12/20/2016
/ AIFs ,
AMF ,
Asset Management ,
ELTIF ,
EU ,
France ,
Investment Funds ,
Loan Origination Funds ,
MiFID II ,
Sapin II ,
UCITS
AMF Doctrine – Management Fees -
The AMF, within the framework of the FROG Working Group (French Routes and Opportunities Garden, whose role is to develop the French asset management industry), updated on 8 November 2016...more
11/28/2016
/ AFG ,
AMF ,
Asset Management ,
Certification Requirements ,
Crowdfunding ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
France ,
Investment Adviser ,
Investment Funds ,
Management Companies ,
Management Fees ,
Portfolio Companies ,
UCITS
AMF Communication – Brexit – Launch of the AGILITY program -
Pursuant to the Brexit, the Autorité des Marchés Financiers (the French Financial Markets Authority, the “AMF”) launched a dedicated program called “AGILITY”...more
Direct Lending by French Funds -
The Autorité des Marchés Financiers (the French financial markets regulator, the “AMF”) has published on 1 April 2016 the results from the public consultation organized at the end of last...more
ELTIF Regulations in France -
The 2015 Amending Finance Law (law n° 2015-1786) included several provisions modifying the French Monetary and Financial Code (Code monétaire et financier) in order to implement under French...more