Regulatory AlertsDOC-2012-08 Placement and Marketing of Financial Instruments
The French Financial Markets Authority (AMF) clarifies the scope of the investment placement service regarding the marketing of financial instruments, specifying that marketing savings products such as UCITS, AIFs, and structured debt securities does not constitute the provision of an unguaranteed placement service. The regulation further establishes that the activity of seeking subscribers or purchasers in connection with an authorized investment firm does not require a separate authorization. This updated position incorporates all Alternative Investment Funds into the category of savings products and reflects transpositions of MiFID II and the separation of legal regimes for investment firms and portfolio management companies.
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