Regulatory AlertsImplementation of a Differentiated Portfolio Transparency Regime for Active ETFs
The French Autorité des Marchés Financiers (AMF) issued Recommendation DOC-2024-04 to clarify the conditions under which portfolio management companies managing active Exchange-Traded Funds (ETFs) may implement a differentiated portfolio transparency policy. This framework allows managers to tailor disclosure practices based on the nature of market participants, providing regulatory guidance for active ETF operations. The recommendation references specific articles from the Monetary and Financial Code and the AMF General Regulation to establish these operational standards.
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